Tesco woes continue with fresh litigation claim

Another group of shareholders in Tesco is preparing legal action against the food retailer following its accounting blunder late last year.

A group of shareholders has employed a litigation specialist to co-ordinate a claim for compensation following the slump in the supermarket's shares late last year. The food retailer overstated its profits by £263m in a major accounting error, which sparked a raft of investigations into the way the business is run, as well as senior departures. The supermarket is already being investigated by the Financial Reporting Council (FRC) and the Serious Fraud Office (SFO). The latest claim, following one made by a Texan pension fund with holdings in Tesco's US depositary shares last Octobe...