Institutional funds group together to file 100 million pounds damages claim against Tesco

Some 125 institutional funds have filed a damages claim for more than 100 million pounds against British supermarket Tesco in relation to its 2014 profit overstatement, the group coordinating the legal action said on Monday. Bentham Europe, which provides financial backing for group claims, said the legal action will seek to prove that Tesco breached the Financial Services & Markets Act by making misleading statements to the stock market that omitted material information and which were relie