Lloyds Action Now - are they genuine?

jh2009

They wont be getting a penny of my money.........

The guy posting to reassure doesnt convince me. It looks a scam to lure any one whose 50-50 to write a cheque and join. And its targeted at people who unlike myself have invested and lost large amounts and I think thats pretty disgusting.

With the "its ok" email from lloyds, anyone could type that. If its genuine im sure lloyds would have no issue putting it or similar advice on their shareholders website?

If there was any mileage in this, the unit trusts, and pension funds that hold lloyds shares would have taken action. And any compensation would be paid to ALL shareholders, not just a small group who have written cheques for £300.

Telometric

Well, I'm sure it's not a complete "scam" in the usual meaning of the word, as in the organisers of LAG will be doing something with your money, and I'm sure they are hoping to get some money back.

However:

1. Their communications (website, letter to investors) are barely written in English, which does not inspire any level of confidence.

2. The poster at #16 is similarly illiterate, despite having apparently been an "MD" at Lloyds. (By "leading council" presumably he meant "leading counsel".)

3. The email exchange at #17 does not look very convincing. A friendly email giving a warning to a consultancy company that its name may be being taken in vain gives rise to a bullying, threatening response. I doubt it is authentic; and if it is, then what does that say about LAN - would you want to get involved with an organisation that sends communications of that type?

Given the above, I doubt they will achieve anything other than lining their own pockets and that of the lawyers involved.

A request to send a cheque; some weak excuse (see their website) as to why they cannot take credit cards; and no telephone number all suggest a method of relieving you of your own money without any hope of getting it back.

It is obvious that credit cards are not accepted as no credit card company would get involved - the requests for chargebacks after a year or so will be very high.

jara65

I actually emailed 'jim' with queries about costs and finance,but received no reply,so there doesn't seem to be any way of communicating with this group.
It all reminds me of the Equitable Life battle with the Treasury[After trying to sue the directors]and how long has that been going on?But one can always communicate with EMAG.

opinions4u

The major shareholders of LTSB were also the same major shareholders of HBOS.

Pension funds etc.

They knew HBOS was not just in trouble, but close to dropping off the cliff. So it was actually in their interests to agree to the deal.

Even with more information available, the deal would have gone through.

jh2009

It actually remains to be seen whether it was a bad deal or not. Lloyds group now has 30% of the uks banking accounts/mortgage market. Thats a phenomenal company to own shares with. I voted for the takeover, as I saw a turbalent few years, but after that a massive money making machine. Im sort of being proven right slowly, as talk of banks collapsing has in the last 12 months or so become talk of banks making excessive profits.

The lloyds deal will probably turn out to be a disaster for longer term shareholders in lloyds who bought shares pre 2008, and you can have some sympathy for them (however owning any shares carries that risk - whatever the company - BP was the same this year). But shorter term shareholders, and those who dipped in and topped up like me at the worst points will i think see a generous return over the next few years.

Its also uncertain what the government will do with its 40 odd percent. IT could sell this back in parts to lloyds and cancel the shares. It could sell these back at discount to existing shareholders/institutions. There could be another wave of privitisations of their shareholdings. Or a combination of these and other methods. When the government, however it does it, exits, then that also will benefit investors.

jh2009

I've had an idea...... I might start my own Lloyds group.

Simply send me a cheque for £200 and,,,,,,,,,,,,,,, i will send you one of those free pens they give away in lloyds branches! There you go - GUARANTEED COMPENSATION for the HBOS takeover.

I've had an email from a lloyds employee who can verify this is not a scam:

From : JH2009
To: alleged Lloyds employee

Dear alleged Lloyds employee

Can you confirm my lloyds group is ok?

From jh 2009

---

From alleged Lloyds employee
To: JH2009

Yes, i can confirm that your group is not a scam. Please immediately tell everyone its quite ok to write a cheque payable to jh2009 for £200.

---

There you go, thats all you need...... please send me your cheque for £200 immediately!

timmeroo

Ok well yer gorra laff!
Couple of things though :
How come there are '800,000 private shareholders' now, when earlier letterbox material (uksa) was saying 'approximately 3 million'. Why the huge difference all of a sudden? If the latter, they certainly don't need to be charging such a high reg fee even if they attracted a third that number, never mind about the mailing costs and so on, thats peanuts!

and:
In regard to posts 16 and 17, I too remain unconvinced so I guess I am rather inclined toward post 23 etc. LAN are gonna have to do a better job than that - so, any chance of a meeting up here in the wilds of NW Norfolk?!!! -
King's Lynn, Norwich, Peterborough, even Cambridge. We don't all live in the country's major metropolis's yer know.
Perhaps they think us 'OO-Arr' types are not worth the effort or/and too savvy to be enticed !!

Lower_North

jackieb185 wrote: »

I but they are asking for money to be included in the group action, the amount you pay is based on the number of shares you have, but it is several hundred pounds (£264.38 joining fee plus 3 pence per share). but are claiming you could get compensation of £2 per share to justify the cost.

J

What happens if they need more money to fight Lloyds? will they ask you for more money?

alanq

LAN discussed on BBC Radio4 Moneybox today.

http://www.bbc.co.uk/iplayer/console/b00vklh3
Starts around 17m45s in.

fazer04

Just listened to LAN discussed on BBC Radio4 Moneybox today. I'm not convinced that the case is quite as set out. There are lots of very expensive people and companies involved with LAN so the up front £300-ish cost (and 3p per share) is potentially a massive fund to keep the 50% tax payers in the style to which they are very accustomed.

The interviews didn't convince me that it was necessary to join LAN to obtain compensation.

Pity BBC cuts this one off too soon for serious discussion.