10th Nov 2014 06:49
LONDON (Alliance News) - Over 5,000 investors have joined a class action-style lawsuit filed against Lloyds Banking Group PLC, claiming they lost around GBP400 million in the government-arranged takeover of HBOS at the height of the financial crisis, the Financial Times reported Sunday.
Lawyers representing the claimants say the group has increased by around a third of the number of shares owned in the company within a fortnight, the FT said.
Investors who held Lloyds shares at the time of the HBOS takeover have until November 19 to sign up, and the lawyers expected the group to as much as double, the paper added.
http://www.ft.com/cms/s/0/a8ff0058-680b-11e4-acc0-00144feabdc0.html?ftcamp=crm/email/20141110/nbe/UKBusiness/product&siteedition=uk#axzz3Ie5HRPcY
By Sam Unsted; [email protected]; @SamUAtAlliance
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