Lloyds Shareholders Lose £385M Suit Over HBOS Takeover

Law360, London (November 15, 2019, 1:02 PM GMT) -- Lloyds Bank shareholders lost a £385 million ($495 million) lawsuit over its ill-fated acquisition of HBOS at the height of the financial crisis, as a judge ruled Friday that investors knew that risks were baked into the deal.

A judge at the High Court dismissed the suit brought by approximately 6,000 former shareholders in Lloyds Bank, who claimed the lender had “mugged” them into accepting its deal to buy HBOS. (AP) High Court Judge Alastair Norris dismissed the suit, which was brought by approximately 6,000 former shareholders in Lloyds who claimed the bank had “mugged” them into accepting its deal to...

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