IMF Bentham Limited
(ASX:IMF) has confirmed it will unconditionally fund litigation against Tesco on behalf of certain Tesco shareholders.
Claims again Tesco relate to alleged misleading and untruthful statements and omissions made by the grocery retailer concerning overstatements of profits in prior financial reporting periods.
Tesco has come under investigation by the UK grocery regulator for overstating profit by 326 million pounds and delaying payments to suppliers in widepsread breaches of industry codes.
IMF Bentham made a net profit of $6.30 million for the year ending 30 June 2015.
