Lloyds shareholders to use LIBOR scandal in legal challenge

Jenna Towler
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A group of Lloyds shareholders suing directors over the 2008 HBOS takeover will use the LIBOR scandal as further proof they were misled into backing the deal.

Lloyds Action Now has instructed its lawyers to incorporate the allegation that Lloyds TSB directors knew that HBOS's real interest rates were not being quoted at the time they recommended the merger....

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