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		</div><p>Lloyds shareholders have lost a multimillion-pound High Court action over the acquisition of HBOS.</p>
<p>A judge sitting in London on Friday dismissed an action by a group of 5,803 former Lloyds TSB shareholders who claimed they were “mugged” when the bank recommended the January 2009 deal without disclosing HBOS’s true financial state.</p>
<p>Sir Alastair Norris announced his decision following a 2017 trial of the case brought by the shareholders against Lloyds Banking Group and former executives over alleged losses running into millions of pounds.</p>
<p>Lloyds “robustly” contested the civil legal action, saying it did not consider there was “any merit” in the claims.</p>
<p>The acquisition left Lloyds saddled with toxic assets and it was later forced to take a government bailout worth £20.3 billion, which has been blamed in part on the takeover.</p>
<p>During the hearing of the dispute, the judge heard from a lawyer for the shareholders that directors recommended the “disastrous” acquisition when, based on information they had, no reasonable director would have done so.</p>
<p>But it was argued on behalf of Lloyds that the allegations of wrongdoing were “entirely devoid of merit”, and the unprecedented claim was “fundamentally flawed at every level”.</p>
<p> ;</p>
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