Lloyds Action Now, an association of Lloyds TSB shareholders, has delivered letters before claim to HM Treasury; the previous chairman of Lloyds TSB (Sir Victor Blank) and the CEO of Lloyds TSB, Mr Eric Daniels on Friday 4 June 2010. The claims arise out of the high profile Lloyds TSB acquisition of HBOS in 2008. The total of the loss suffered by shareholders may amount to as much as £14bn.
Johan du Toit advised Lloyds Action Now on the causes of action and settled the letters before claim. He continues to advise the association. Causes of action based on common law misrepresentation; section 90 of the Financial Services and Markets Act; and under Article 1 Protocol 1 of the European Human Rights Convention are involved.
Further details – see Lloyds Action Now newsletter: