Search Results for: tesco
The Banking arm of Tesco halts transactions after customers’ money stolen
November 7th, 2016
Tesco Bank became victim to an online hack with customers complaining they had money stolen from their accounts, its chief executive said. Benny Higgins said some current accounts had money withdrawn from them fraudulently after “online criminal activity” over ...
Tesco hit with £100m lawsuit over accounting scandal
November 1st, 2016
More than 125 large investment funds have filed a £100 million-plus legal claim against Tesco over the 2014 accounting scandal which saw its profits inflated by £326m. Bentham Europe, the London-based litigation firm fronting the claim, said that institutional ...
Ex-Tesco bosses to appear in court on fraud and false accounting charges
October 20th, 2016
Christopher Bush, Carl Rogberg and John Scouler previously pleaded not guilty to the charges brought against them Three former Tesco executives are to appear in crown court to face charges of fraud and false accounting in relation to a ...
Tesco faces UK legal action over accounting scandal
October 3rd, 2016
Tesco is facing a legal action by a group of investors who claim to have lost £150m due to the supermarket’s 2014 accounting irregularities scandal. “Shareholders were misled by information inaccurately provided to the market with knowledge by management,” ...
Tesco Ends 32-Year PwC Relationship After Accounting Scandal
May 11th, 2015
Tesco Plc ended a 32-year relationship with PricewaterhouseCoopers LLP by hiring Deloitte LLP as its new auditor, seeking to draw a line under a 263 million-pound ($406 million) accounting scandal. The U.K.’s largest supermarket company selected Deloitte following a ...
FTSE rises as Tesco shares bounce back
January 8th, 2015
A rally by Tesco helped to lift Britain’s top equity index on Thursday, as investors warmed to the supermarket group’s restructuring plans. The FTSE 100 index was up by 1.3 percent at 6,503.04 points in early trading. Tesco was the best-performing ...
Accounting watchdog warns retailers after Tesco scandal
December 8th, 2014
British retailers must provide clear information to investors about their income from suppliers, the country’s accounting watchdog said on Monday as it investigates a book-keeping scandal at leading supermarket Tesco (TSCO.L). Tesco has admitted overstating half-year profits by 263 ...
Tesco boss Dave Lewis overhauls management structure amid accounting scandal
December 2nd, 2014
Tesco’s newly appointed CEO Dave Lewis has overhauled the management structure of the British retailer in the wake of an accounting scandal that led to eight managers being suspended. Lewis will temporarily head UK operations as the current managing ...
Funding secured for Tesco shareholder class action
November 26th, 2014
Australian litigation funder Bentham has made its biggest entry yet in the European market by agreeing to fund a class action against supermarket giant Tesco. The European subsidiary will fund legal action on behalf of shareholders who are claiming ...
Tesco poised to dump auditor after accounting scandal
November 19th, 2014
Tesco could be on the verge of dumping PwC, its auditor of 31 years, over its apparent failure to identify the accounting problems that led to a black hole in its books. The Evening Standard understands that board members ...
