Tesco in $12m US legal payout over accounting irregularities

Tesco has agreed to pay $12m (€11.28m) to settle a US shareholder lawsuit claiming that accounting irregularities inflated the share price of Britain’s largest retailer.

Tesco in $12m US legal payout over accounting irregularities
Fri, 27 Nov, 2015 - 00:00
Jonathan Stempel

The all-cash settlement was disclosed in filings in the US District Court in Manhattan, and requires court approval.

Tesco denied wrongdoing in agreeing to settle, court papers show.

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CourtsTescocourtaccountingshare priceUSPlace: USPlace: BritainPlace: ManhattanPerson: Stephen KlugPerson: Kim MillerPerson: KlugOrganisation: TescoOrganisation: rsquoOrganisation: US District CourtOrganisation: ’s Serious Fraud OfficeOrganisation: Kahn Swick & Foti
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