Tesco shares / fraudulent reporting.

[wales01man]

Re: Tesco shares / fraudulent reporting.

Has Fraud been proven against anyone in a Court?
We all back you in your fight but realise The opposition will not give in easily

[sean5302]

Re: Tesco shares / fraudulent reporting.

I am unaware of anyone else having taken them to court.
Are you?
Thank you for the support but, unless someone like myself actually takes a stand against Tesco, everyone will just say nothing has been proven against them.
The Serious Fraud Office is not renowned for speed of action or for properly publicising its findings.
The Littlewoods and Argos case springs to mind.
All the SFO seemed interested in was fining Argos umpteen millions, which ended up in the Treasury.

[righty]

Re: Tesco shares / fraudulent reporting.

I am unaware of anyone else having taken them to court.
Are you?
Thank you for the support but, unless someone like myself actually takes a stand against Tesco, everyone will just say nothing has been proven against them.
The Serious Fraud Office is not renowned for speed of action or for properly publicising its findings.
The Littlewoods and Argos case springs to mind.
All the SFO seemed interested in was fining Argos umpteen millions, which ended up in the Treasury.

Quite! and its individuals like you who have changed matters for the public good.
As you state The Halifax T's and C's clearly stated at the time you entered into the contract that you would NOT suffer any loss due to fraudulent trading AND there's nothing unambiguous about that term, its in your face and without any caveat:tinysmile_twink_t2:

[stevemLS]

Re: Tesco shares / fraudulent reporting.

Sorry - but isn't the bit about the Halifax to do with the fraudulent trading of the shares, as I see it, there is nothing fraudulent about the trading of the shares themselves.

It (may well be) is correct that the shares themselves were priced on the basis of a fraud, but that is a different issue as I see it.

Fraudulent trading of the shares might include, perhaps, a seller that didn't have the shares to sell?

[righty]

Re: Tesco shares / fraudulent reporting.

Its argued that lies were told about the profits causing the share price to be inflated way beyond its true value. AND that isn't a result of market forces its because someone told porkies and THAT is fraud according to the 2006 Fraud Act AND Halifax appear to have given their customer an open ended guarantee that they would reimburse them in the event of fraud. It also appears that they make no mention as to who has to commit the fraud for the customer to obtain the benefit

[stevemLS]

Re: Tesco shares / fraudulent reporting.

My point is that the fraud is not as a result of the trading.

It is the underlying share price.

Which is why I don't think Halifax are on the hook, whereas Tesco may well be.

[righty]

Re: Tesco shares / fraudulent reporting.

My point is that the fraud is not as a result of the trading.

It is the underlying share price.

Which is why I don't think Halifax are on the hook, whereas Tesco may well be.

I disagree in that Halifax don't claim that it has to them committing the fraud. Its an open ended guarantee hence their urgency in rewording the T's & C's I also think both companies are responsible BUT the OP only has one guarantor The Halifax. Of course they could sue Tesco for putting them into that position

[stevemLS]

Re: Tesco shares / fraudulent reporting.

I guess we will see

[Mr $quandaŁot]

Re: Tesco shares / fraudulent reporting.

Halifax is a broker so has nothing to do with Tesco's fraudulent activity. People may believe what they want but that doesn't mean they are right.

[Mr $quandaŁot]

Re: Tesco shares / fraudulent reporting.

Halifax is a broker so has nothing to do with Tesco's fraudulent activity. People may believe what they want but that doesn't mean they are right.

[sean5302]

Re: Tesco shares / fraudulent reporting.

Halifax is a broker so has nothing to do with Tesco's fraudulent activity. People may believe what they want but that doesn't mean they are right.

Respectfully, your logic is flawed.

Imagine that you buy a can of Heinz beans, from Waitrose.

Unbeknown to you or Waitrose that can contains a jagged piece of glass which your young child eats and dies from.

Who will you sue?

Legally, your contract is with Waitrose, who would be prosecuted for selling food not of the substance demanded by the customer, under the Food Safety Act. Waitrose would then claim damages from Heinz.

[wales01man]

Re: Tesco shares / fraudulent reporting.

Despite conflicting views on the clause in the terms and conditions it will in the ebd be decided in a Court or The defendants will settle out of court.

Their choice is a public case where they are putting a lot of money into a defence knowing what losing may cost or settle with confidentiality agreement no doubt . Whatever happens I would hope the OP gets at least some recompense.

[sean5302]

Re: Tesco shares / fraudulent reporting.

I am pleased to report that matters are now progressing as I want, so far.
A Judge at MCOL has decided that Halifax does have a case to answer and has refused to strike my claim out against them.

The same Judge has refused Tesco's solicitors application to strike my claim out and take it to the High Court.

The matter is now transferred to my local county court, on the small claims track, thereby limiting the defendants' costs claims and making life very much easier for me.

I also read yesterday that the Financial Reporting Council have formally announced their own investigation into the published Tesco accounts for years 2012, 2013 and 2014. They cite PwC's audits, saying there is evidence of fraud.

Finally, I read today that Thornton's, the chocolate retailer, is claiming they are on the point of going into liquidation. They say that Tesco's sales volumes, not just of their own products, are in terminal decline. Maybe uncharitable of me to mention that but I'm no longer a friend of Tesco. Even though it's Christmas.

[righty]

Re: Tesco shares / fraudulent reporting.

Great! Please keep us informed BUT don't expose your full arguments on what is an open forum as they may find it. Many lawyers do search the Web to find out if a LIP is on a forum like this

[Mineral1]

Re: Tesco shares / fraudulent reporting.

Respectfully, your logic is flawed.

Imagine that you buy a can of Heinz beans, from Waitrose.

Unbeknown to you or Waitrose that can contains a jagged piece of glass which your young child eats and dies from.

Who will you sue?

Legally, your contract is with Waitrose, who would be prosecuted for selling food not of the substance demanded by the customer, under the Food Safety Act. Waitrose would then claim damages from Heinz.

Snail and Lemonade Bottle.... Waitrose can't be held to account for a sealed can it can't inspect the contents of practicably.
My grandad always loved that piece of law, he said it epitomised the elegance of our legal system