Fri. Nov 27th, 2020

Lloyds shareholders lose legal fight over HBOS takeover

Judge found failures by Lloyds to provide information before takeover but these were not “causative of any loss”

Thousands of shareholders in Lloyds Banking Group have lost a multi-million pound legal battle against the bank over its takeover of HBOS at the height of the global financial crisis.

A high court judge in London dismissed claims that Lloyds executives had misled shareholders in recommending the 2008 takeover of HBOS, as well as not disclosing that HBOS had received emergency funding from the Bank of England ahead of the merger.

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