|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    19th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

All Financial News feed All Financial News




Lloyds shareholders in protest meeting over HBOS takeover

Bookmark and Share

by Kay Mitchell
”Lloyds

The group, Lloyds Action Now, has been holding protest meetings after the group claims their savings were wiped out following the Lloyds Banking Group’s merger with HBOS.

Lloyds TSB’s controversial takeover of HBOS took place at the height of the financial crisis and the group was renamed Lloyds Banking Group.

The shareholder group, which was established last year, claim investors were lured into voting for the takeover, while not being provided with all the relevant information – particularly in respect to HBOS’ finances.

The angry group of shareholders claim they were misled into voting for the takeover without being informed that loans to HBOS from the Bank of England totalled approximately £25.4 billion.

The group is suing Lloyds directors and the Government. However, the bank claims it provided shareholders “thorough and appropriate information”.

The protest meeting took place in the Ambassadors Hotel in Bloomsbury, London and was attended by about 250 people.

It followed Friday’s protest meeting in Birmingham city centre and last Wednesday’s meeting at the Ramada Jarvis Leeds Parkway.

Discuss this in the Finance Markets forums

Story link: Lloyds shareholders in protest meeting over HBOS takeover



News posted: October 24, 2010

Financial Services:





Related financial stories to: Lloyds shareholders in protest meeting over HBOS takeover:
Previous: «
Next: »

Visited 4536 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , , ,