In this special edition of our banking litigation podcast, we consider the first judgment in a shareholder class action in England & Wales in Sharp v Blank [2019] EWHC 3078 (Ch) (also known as The Lloyds/HBOS Litigation).

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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.

Herbert Smith Freehills acted for Lloyds in the litigation, and in this podcast we summarise the outcome, implications for banks (as both issuers and as advisers in an investment banking capacity) and share our litigation top tips.

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Our FSR and Corporate Crime colleagues have released their first episode on this combined channel of Regulation in Focus, a podcast series of short, sharp insights into regulatory issues that matter to you.