Herbert Smith Freehills LLP have published an article in Butterworths Journal of International Banking and Financial Law considering how the findings in Sharp v Blank [2019] EWHC 3078 (Ch) (also known as The Lloyds/HBOS litigation) may be of assistance in interpreting sections 90 and 90A of the Financial Services and Markets Act 2000.

Lloyds/HBOS is the only securities class action to have reached trial in England and Wales to date. While this case considered the common law duty not to negligently misstate and equitable duty to provide shareholders with sufficient information, there are parallels between these duties and the bases for shareholder claims found in the statutory regime under sections 90 and 90A FSMA.

The article can be found here: What does Lloyds/HBOS tell us about sections 90 and 90A of FSMA? This article first appeared in the February 2020 edition of JIBFL.

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