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Reuters reports that Tesco is facing a new lawsuit, from a US fund manager, over the systematic overstatement of revenue and understatement of expenses that in 2014 led to federal investigations of the company and charges against some company executives.

The lawsuit, filed by Manning & Napier, claims that the company lost $212 million because of the accounting irregularities.

The story notes that "Tesco is already defending a more than 100 million pounds ($125 million) claim from a group of 125 institutional investors that was filed last October ... In November 2015 Tesco agreed to pay $12 million to settle a U.S. shareholder lawsuit. The retailer denied wrongdoing in agreeing to settle."
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