Serves me right for wondering. Via Lloyds Action Now:
Lloyds Action Now (LAN) is an association set up by shareholders for shareholders to recover our investment losses as a result of the disastrous merger of Lloyds TSB Bank with HBOS.
We now know Lloyds directors and advisors, the Government, the Financial Services Authority and the Bank of England (and advisors) were fully aware of the effective bankruptcy of HBOS before the merger but nevertheless promoted it and that the Treasury secretly injected over £25 billion into HBOS to keep it afloat until this marriage of convenience could be consummated; which was deliberately withheld from ordinary LTSB shareholders before we were asked to vote. We have taken legal advice from leading counsel and experts in the European Court who agree that shareholders have excellent grounds to recover their losses.
Oh dear…
