Lloyds litigation recognised in The Lawyer magazine.
The Lawyer published its “Top 20 Cases of 2017” last week. Sharp & Ors v Blank & Ors, in which Harcus Sinclair represents the claimant shareholders against Lloyds Banking Group, features in the top ten.
The 6,000 claimants, ranging from small investors to large pension funds, are claiming about £350m in compensation for losses as a result of Lloyds’ acquisition of HBOS in 2009. They argue that Lloyds and its directors failed to disclose the full extent of HBOS’ financial troubles before asking shareholders to vote on the deal.
In the article, The Lawyer points to “ground-breaking” pre-action decisions in the case. In 2015, the High Court ruled that advice given to Lloyds by Linklaters at the time of the HBoS acquisition is not subject to privilege.
Read the full article here (subscription required).