Retail news round-up on May 28, 2015: Philip Marshall QC to act in Tesco profits legal case, Tesco partners with Weve, M&S execs get small payout from share scheme
Philip Marshall QC to act in Tesco profits scandal
Philip Marshall QC, who fought over Liverpool FC’s last change of ownership, will represent on behalf of Tesco Shareholder Claims in a legal battle over the grocer’s profit overstatement scandal, according to Sky News. Sources said that a number of institutional investors had agreed to sign up to the case being represented by Marshall, although they refused to name them.The advice we have received comes as no surprise. Our investigation over the last few months has shown that Tesco committed serious violations when it overstated its profits. We intend to pursue Tesco in order to help our clients recoup their losses.