UK’s biggest retailer was sued after overstating 2014 first-half profit by £263m, causing a hit to stock prices when the error came to light Tesco has agreed to pay $12m to settle a US shareholder lawsuit claiming that accounting irregularities inflated the share price of Britain’s largest retailer. The all-cash settlement was disclosed in filings on Wednesday in Manhattan and requires court approval.

Topics:  tesco   britain s   manhattan   accounting   retailer   
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