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Case Status:    SETTLED
On or around 01/20/2016 (Date of last review)

Filing Date: October 23, 2014

According to the law firm press release, the securities class action charges that, throughout the Class Period, Tesco made false and/or misleading statements, as well as failed to disclose material adverse facts. Specifically, on September 22, 2014, Tesco surprised the market when it announced that it had overstated its expected profit for the half year by approximately [Pounds]250m ($402 million) and that it had accelerated recognition of income and delayed accrual of certain costs. The complaint alleges that when this adverse information became known, the Company's share prices declined significantly, from $11.29 per share on September 19, 2014 to $9.61 per share on September 22, 2014.

On November 19, 2015, the parties entered into a Stipulation of Settlement.

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