Tesco is facing a potential multi-billion class action lawsuit in the UK by a not-for-profit organisation representing its shareholders, in relation to the profit overstatement it announced last year.
Tesco Shareholder Claims Limited (TSC), a not-for-profit group backed by US law firm Scott +Scott LLP firm, today announced its will seek to bring action against Tesco PLC in the UK on behalf of its institutional shareholders as a result of Tesco’s announcement on 22 September 2014 that it ”materially” overstated its profits.
‘Enforcement 40’ for 2020
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