INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Tesco PLC (TSCDY) To Contact The Firm

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Oct 15, 2014, 03:45 ET

NEW YORK, Oct. 15, 2014 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Tesco PLC ("Tesco" or the "Company") (OTC:TSCDY).

The investigation focuses on whether the Company and its executives violated federal securities laws by making false and misleading statements and/or failing to disclose material facts regarding its business and operations.

On September 22, 2014, Tesco issued a press release disclosing that the Company is investigating the overstatement of its profit forecast for 2015 by approximately $408.8 million. The press release issued by the Company acknowledged that its most recent profit forecast was overestimated as a result of an accounting error related to revenue that was booked early and delayed recognition of costs. The Company also disclosed that at least four senior executives have been suspended pending the conclusion of the Company's investigation.

When the adverse information from the September 22, 2014 press release entered the market, Tesco's stock price dropped $1.68 per share, or nearly 15%, to close at $9.61 per share on September 22, 2014.

Request more information now by clicking here: www.faruqilaw.com/TSCDY. There is no cost or obligation to you.

Take Action

If you invested in Tesco stock or options prior to September 22, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/TSCDY. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Tesco's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330

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