Tesco Plc’s 2014 profit overstatement, which cut its value by 2 billion pounds ($2.6 billion), may bite again after the collapse of a criminal trial of former executives allows two shareholder lawsuits to move forward against Britain’s biggest retailer.
The claims—one worth about 450 million pounds by the pension fund Omers Administration Corp. and other institutional investors, and one from investment manager Manning & Napier Fund, Inc. for about $215 million—are set to be tried together in 2020.
The suit, and a separate criminal trial that ended Jan. 23, were triggered by a discovery that the retailer had overstated income ...
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