Tesco faces £150m lawsuit from investors hit by supermarket's accounting black hole



Tesco is facing further legal action from a group of investors who claim they suffered financially after a £326m black hole was revealed in the supermarket’s accounts.
The £150m lawsuit is the second one being considered by shareholders since charges were brought against three former Tesco executives for accounting fraud relating to the 2014 scandal in which it massively overstated profits and its share price plunged 10 per cent.
It will pile further pressure on the retailer which is suffering under the weight of a £5bn pension deficit and is trying to battle back to dividend payments.
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3 October 2016 in Business, Views: 29
Source: Daily Mail
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