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Lloyds Reaches Last Leg of Crisis-Era Clash Over HBOS Takeover

  • Bank sued for 600 million pounds for decision to acquire HBOS
  • Shareholders say bank didn’t give information needed to vote

Lloyds Banking Group Plc has entered the final stretch of a months-long court battle with shareholders over its fateful purchase of failing HBOS at the height of the financial crisis. But both sides will have to wait even longer for a verdict.

About 6,000 retail and institutional investors sued for 600 million pounds ($827 million) claiming the bank and its executives deliberately misled them to win approval for the HBOS takeover by failing to reveal the true extent of its catastrophic financial position.