NY Police Pension Fund Drops Out Of Tesco Accounting Suit

Law360, London (April 7, 2021, 4:41 PM BST) -- A New York City police pension fund has withdrawn its claims against Tesco PLC over a false accounting scandal that damaged the British grocery giant's share price and has already cost the chain £300 million ($414 million).

The High Court said in an order made on Friday that the New York City Police Officers' Variable Supplements Fund has withdrawn from a large lawsuit being heard in London against Tesco. The court said the claims in relation to the pension fund have been dismissed.

The court did not give reasons for dismissing the police's claim against Tesco but said that the decision...

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