Lloyds investor lawsuit over HBOS deal 'fundamentally flawed', court hears

LONDON (Reuters) – Lloyds Banking Group saw a “unique opportunity” in buying struggling rival HBOS during the credit crisis and an investor lawsuit is “fundamentally flawed”, a lawyer for the bank told London’s High Court on Thursday. Helen Davies defended Lloyds’ actions during the takeover on the second day of a 14-week London trial in which about 6,000 investors are claiming more than 550 million pounds in damages.

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