We use our own and third-party cookies to optimize your experience on this site, including to maintain user sessions. Without these cookies our site will not function well. If you continue browsing our site we take that to mean that you understand and accept how we use the cookies. If you wish to decline our cookies we will redirect you to Google.
Already have an account? Sign in.

 Remember Me | Forgot Your Password?

Tesco Settles U.S. Shareholder Action Over Accounting Scandal

November 25, 2015: 12:00 AM EST
UK retailer Tesco PLC agreed to pay $12 million in order to settle a shareholder lawsuit in the United States. Claiming that accounting irregularities inflated its share price, the plaintiff sued after Tesco revealed in September 2014 that it exaggerated first-half profit by £250 million. Tesco’s American depositary shares fell 15 percent the next trading day.
Jonathan Stempel, "UPDATE 1-Tesco in $12 mln U.S. settlement over accounting scandal", Reuters, November 25, 2015, © Thomson Reuters
North America
United States of America
Companies, Organizations
Legal, Legislation, Regulation, Policy
Developed by Yuri Ingultsov Software Lab.