Lloyds Banking Group has been informed that it has a duty of care to contact thousands of investors so they can join a legal action against former chairman Sir Victor Blank and CEO Eric Daniels over tis takeover of HBOs in 2008.

Campaign Group Lloyds Action Now (LAN) has written to Lloyds Nominees Ltd, which holds millions of shares in trust on behalf of individuals and institutions whose names do not appear on its share register, demanding it tells them about the case.

LAN has also written to a further 3,000 nominees who represent 23,000 investors making the same demand.

LAN chairman Nicholas Shaw said: “As professional trustees they have a clear duty to inform their clients about this action. If they do not