The spokesman for the Lloyds/HBOS Shareholder Action Group - which is being represented by Harcus Sinclair UK - said: "The fact that Lloyds Banking Group under the leadership of its current chief executive officer, Antonio Horta Osorio, is continuing to stand by and defend the actions of the director defendants is staggering, especially given the reputational damage done to the bank as a result of his slow response to providing redress to the victims of the HBOS Reading scandal."