Institutions that had invested heavily in Tesco before it was hit by financial scandals are claiming more than £100 million in damages.
Troubles continue to buffet the UK's largest food retailer. First it was shown to have been faking its profit figures, then three of its executives were charged with fraud, and now a group of institutional investors is claiming more than £100m in damages.
Tesco's value dropped by around £3bn in 2014, after the extent of the overstatement of profits was revealed. The institutional investors now pursuing a claim say they were misled by the false accounting to invest in Tesco, when if they had known the true picture they might not have done.
Read more here, and find out more here about Sustain's policies for a fairer and greener food system.
Published Friday 4 November 2016
Sustain: Sustain The alliance for better food and farming advocates food and agriculture policies and practices that enhance the health and welfare of people and animals, improve the working and living environment, enrich society and culture and promote equity.
