“Lloyds action group launches £14bn compensation bid” – Money Marketing, 7 June 2010

”Lloyds action group launches £14bn compensation bid” – Money Marketing, 7 June 2010

A group of Lloyds shareholders are preparing to take legal action against the Treasury and Lloyds TSB directors after claims that vital information was withheld regarding HBOS’s finances. According to reports, the shareholders feel aggrieved that they were not informed about the size of the loan that the Government lent to HBOS in October 2008, and claim they were misled into voting for the HBOS takeover. The loan is believed to be around £25.4bn and was not disclosed until November 2009… [click the link above to read full article]