The first judgment in a shareholder class action in England & Wales has been handed down by the High Court today in Sharp v Blank [2019] EWHC 3078 (Ch) (also known as The Lloyds/HBOS litigation).

In rejecting the claim brought by a group of shareholders against Lloyds relating to its acquisition of HBOS in 2008, the decision of the High Court provides clarity on some of the most important battlegrounds which arise in shareholder class actions as well as guidance for listed companies and their directors on various key aspects of capital markets and M&A transactions.

This significant decision will have ramifications for listed companies, and their advisers, in the UK.

A briefing paper setting out our observations and insights is available here.

Harry Edwards
Harry Edwards
Partner
+44 20 7466 2221
Damien Byrne Hill
Damien Byrne Hill
Partner
+44 20 7466 2114
Sarah Penfold
Sarah Penfold
Associate
+44 20 7466 2619
Ceri Morgan
Ceri Morgan
Professional Support Lawyer
+44 20 7466 2948