23rd Jul 2015 05:44
LONDON (Alliance News) - Thousands of shareholders in Lloyds Banking Group PLC have started a GBP350 million court compensation claim over the bank's takeover of HBOS at the height of the financial crisis in November 2008, The Daily Telegraph reports.
The shareholders argue Lloyds and its directors failed to fully disclose the troubled state of HBOS's finances when it distributed the takeover documents.
They claim that they were hit to the tune of GBP1 per share from the HBOS deal and are now seeking to claim that back from the lender.
http://www.telegraph.co.uk/finance/newsbysector/epic/lloy/11755921/Lloyds-shareholders-launch-350m-HBOS-law-suit.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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