Case brought by Lloyds shareholders 'fundamentally flawed', British High Court hears

A multimillion-pound case brought by Lloyds shareholders over the acquisition of HBOS is "fundamentally flawed at every level", the High Court in England has heard.

A group of 5,803 former Lloyds TSB shareholders claim they were "mugged" when the bank recommended the January 2009 deal without disclosing HBOS's true financial state.