Tesco, Investment Firm End $215M Accounting Scandal Suit

Law360, London (September 7, 2020, 4:00 PM BST) -- An American investment manager has dropped its $215 million lawsuit against Tesco PLC in London over an accounting scandal that hammered the British grocery chain's stock, ending a lengthy and complex securities case months before a trial was due to start.

The agreement means the grocery chain avoids a hearing in October to determine whether it owed investors damages. (AP Photo/Alastair Grant) The lawsuit filed by Manning & Napier Fund Inc. and its Exeter Trust Company was dismissed by High Court Judge Robert Hildyard in a judgment on Sept. 2 , according to court records. 

It was not immediately clear whether the...

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