Tesco Wins Fight To Appeal Investors' $790M Accounting Suit

Law360, London (November 6, 2019, 4:45 PM GMT) -- The Court of Appeal is set to weigh how Britain's decades-old securities law applies to an increasingly popular form of computerized trading after a London judge agreed Wednesday to let Tesco challenge shareholders' authority to bring a $790 million suit over the supermarket chain's accounting scandal.

A judge has said Tesco can challenge his ruling that institutional investors held an interest in the grocery giant's shares even though the securities were held by other companies. (AP) High Court Judge Robert Hilyard said Tesco PLC could challenge his finding that a group of institutional investors held an interest in the company's shares...

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