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About the action

The claimants allege that the defendants encouraged Lloyds shareholders to vote in favour of Lloyds’ acquisition of HBOS in January 2009, without providing them with the information they needed to properly consider the proposal.


They say that the defendants concealed the fact that HBOS was reliant on Emergency Liquidity Assistance from the Bank of England of up to £25.4 billion, financial support from the Federal Reserve of up to US$18 billion, and a loan from Lloyds in the order of £10 billion.


The claimant group comprises both small individual investors and large institutions.


If you would like more information about the case, please contact Harcus Sinclair UK Limited.