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Shareholders lose multimillion-pound legal battle against Lloyds
Lloyds shareholders have lost a multimillion-pound High Court action over the acquisition of HBOS. A judge sitting in London on Friday dismissed an action by a group of 5,803 former Lloyds TSB shareholders who claimed they were “mugged” when the bank recommended the January 2009 deal without disclosing HBOS’s true financial state. Sir Alastair Norris announced his decision following a 2017 trial of the case brought by the shareholders against Lloyds Banking Group and former executives over alleged losses running into millions of pounds. Lloyds “robustly” contested the civil legal action, saying it did not consider ... (full story)