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At the annual general meeting of Lloyds Action Now, shareholders will call for help in plans to find funds for legal action.
In a statement, the group said that shareholders of Lloyds are angry about what they describe as mismanagement by the board "and the failure of the HBOS accounts at a time when its exposure to mortgage debt was a matter of public knowledge".
The group added that shares had been damaged by the acquisition.
Lloyds told the Scotsman that it refuted the accusations and that it believed the takeover would bring benefits to shareholders.
The revolt comes shortly after the news that Lloyds is cutting 530 jobs, including 190 in a site in Kent.
Employment union Accord's general secretary Ged Nichols said that the banking group ought to co-operate with it to try to escape voluntary redundancies.
