Investors Settle £450M Tesco Accounting Scandal Lawsuit
Several institutional investors suing Tesco over an accounting scandal have settled their £450 million ($588 million) lawsuit just months before trial in London, leaving the grocery chain facing a complex, if pared-down, battle over securities.
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Jaguar Land Rover has lost its appeal of a decision blocking the company's effort to register trademarks for the shape of the Land Rover Defender after a London judge saw no error in the finding that the sport utility vehicle's form wasn't distinct.
The Financial Conduct Authority said Monday it would intervene if it found insurers acting unfairly in paying COVID-19 claims, after small business groups complained that the industry was deducting the cost of government grants from payouts.
HM Revenue & Customs can add claims that General Electric fraudulently misled it to a lawsuit over negotiations connected to a multibillion-loan and a tax relief deal from 2005, a judge in London has ruled.
Scottish Power Ltd. has resolved its £37 million ($48 million) lawsuit against a major European power cable company that was part of a cartel that rigged the market and distorted prices for over a decade.
A BNP Paribas unit allegedly ran a trading desk with inadequate risk controls, causing it to execute a range of potentially erroneous customer orders, and took years to fix the problems in many instances, according to a $650,000 settlement the broker-dealer reached with the Financial Industry Regulatory Authority.
An appeals court in London ruled Friday that a lower court had acted disproportionately when it struck out a £2.2 million ($2.8 million) personal injury suit against insurer Liverpool Victoria over procedural errors in the filing.
The U.K. government said Friday that it has agreed with the European Union to a timetable that will push Brexit talks into October, leaving the two sides with just two months before the transition period ends in December to implement the terms of any future trade relationship.
Auditors are not showing enough skepticism and independence when reviewing the accounts of their London-listed clients, the U.K.'s accounting watchdog said Friday as it looked to improve standards in the sector.
The Serious Fraud Office clawed back £5.5 million ($7.23 million) on Friday from two former executives at the failed oil exploration company Afren PLC following their convictions on fraud and money laundering charges two years ago.
HSBC urged a judge Thursday to toss the bulk of a £118 million ($154 million) suit accusing the bank of ignoring signs of a $7 billion Ponzi scheme, but the judge countered that even a sliver of the claim could end up revealing a "smoking gun."