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The protest group claims the bank withheld vital financial information from shareholders
Lloyds Banking Group shareholders who lost money after the former Lloyds TSB bought Halifax Bank of Scotland are to hold a protest meeting in London later.
The shareholders allege that former Chancellor Alistair Darling and Lloyds directors withheld vital information in the run-up to the takeover in 2009.
The meeting is being held by protest group Lloyds Action Now, which is suing Lloyds directors and the government.
Lloyds says it gave shareholders "thorough and appropriate information".
Lloyds TSB bought Halifax Bank of Scotland in January 2009, subsequently renaming the business Lloyds Banking Group.
However, when the extent of the combined bank's financial woes were then revealed - at the height of the financial crisis - its share price collapsed.
The government then had to step in and take a large minority stake in Lloyds, which currently stands at 41%.
Lloyds Action Now (LAN) claims an undisclosed £25.4bn Bank of England loan, given to Halifax Bank of Scotland a month before the takeover was completed, should have been made public.
LAN says that private investors lost as much as £2bn as a result of the collapse in Lloyds' share price.
The protest meeting in London follows similar events during the past week across the UK.
This article is from the BBC News website. ? British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
The protest group claims the bank withheld vital financial information from shareholders Lloyds Banking Group shareholders who lost money after the former Lloyds TSB bought Halifax Bank of Scotland are to hold a protest meeting in London later.
The shareholders allege that former Chancellor Alistair Darling and Lloyds directors withheld vital information in the run-up to the takeover in 2009.
The meeting is being held by protest group Lloyds Action Now, which is suing Lloyds directors and the government.
Lloyds says it gave shareholders "thorough and appropriate information".
Lloyds TSB bought Halifax Bank of Scotland in January 2009, subsequently renaming the business Lloyds Banking Group.
However, when the extent of the combined bank's financial woes were then revealed - at the height of the financial crisis - its share price collapsed.
The government then had to step in and take a large minority stake in Lloyds, which currently stands at 41%.
Lloyds Action Now (LAN) claims an undisclosed £25.4bn Bank of England loan, given to Halifax Bank of Scotland a month before the takeover was completed, should have been made public.
LAN says that private investors lost as much as £2bn as a result of the collapse in Lloyds' share price.
The protest meeting in London follows similar events during the past week across the UK.
This article is from the BBC News website. ? British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.