Law360, London (October 28, 2019, 12:04 PM GMT) -- A $790 million shareholders’ lawsuit against Tesco could be headed to trial after a judge in London ruled on Monday that investors held an interest in shares that were devastated by a false accounting scandal.
Nearly $2.6 billion came off Tesco's balance sheet after the U.K. supermarket chain was found to have exaggerated its profit. (AP)
High Court Judge Robert Hildyard rejected Tesco PLC’s efforts to escape lawsuits brought by institutional investors suing the supermarket chain after nearly £2 billion ($2.6 billion) was wiped off its value in 2014 when it was found to have overstated its profit.
Judge Hildyard ruled that...
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