Around 8,000 investors have put their name to a lawsuit claiming Lloyds misled shareholders ahead of the bank's acquisition of HBOS six years ago.
The investors, which include around 140 institutions such as pension funds, asset managers and charities, claim they lost around £300m when approving the takeover in 2008. A claim against the state-backed bank is understood to have been filed on Tuesday after thousands of shareholders added their names to the lawsuit in the last two weeks ahead of a deadline, the Telegraph reports. The claim had to be made ahead of a Wednesday deadline - the six-year anniversary of shareholders approving the deal. Shareholders claim that Lloyds breached its fiduciary duty by neglecting to reveal t...
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