Stewarts Law says it will write to supermarket before undertaking legal action to prove it misled shareholdersFindings by the grocery watchdog that Tesco deliberately delayed payments to boost profits may increase the likelihood of legal action by shareholders who say they lost tens of millions of pounds over the company’s profits mis-statement in 2014.
David Scott from Scott+Scott,the law firm representing Tesco Shareholder Claims, which is asking British shareholders to join a group seeking billions of pounds in compensation for losses, or said: “nowadays’s report confirms that pressure to meet financial targets drove the company’s behaviour.” Related: Tesco delayed payments to suppliers to boost profits,watchdog finds Continue reading...
Source: theguardian.com