Rosenblatt is compiling a list of potential claimants for an action against Tesco plc (“Tesco”) as a result of its market abuse between 2013-2015. During that time, executives at Tesco intentionally manipulated its trading profits and made misleading statements to the stock market that omitted material information, resulting in potential losses for investors who had relied on that information when making investment decisions.
Commenting on the potential group action, Tania MacLeod, Managing Partner, said:
“We believe the FCA compensation scheme does not extend far enough. What is beyond doubt is that, even on the findings of Tesco’s own investigation, the reporting of its financial information was overstated long before 29 August 2014 and thus there is a likelihood that investors bought stock at inflated prices going back to at least 2013.”
