Wolf Haldenstein Adler Freeman & Herz LLP Announces it Has filed a Federal Securities Class Action Against Tesco PLC in the Southern District of New York -- TSCDF

Lead Plaintiff Deadline is Monday, December 22, 2014


NEW YORK, Dec. 16, 2014 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein") has filed a class action complaint against Tesco PLC ("Tesco" or the "Company") in the United States District Court for the Southern District of New York. The complaint was filed on behalf of those persons and entities who purchased or otherwise acquired Tesco PLC Ordinary F shares on an American exchange (OTC:TSCDF) between April 17, 2013 and October 22, 2014, inclusive, (the "Class Period") and seeks remedies under the Securities Exchange Act of 1934.

Investors who purchased Tesco PLC Ordinary F securities during the Class Period and wish to serve as a lead plaintiff in the class action must move the Court no later than next Monday, December 22, 2014.

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 £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.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the "Tesco investigation."

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