Adrian Morris, the General Counsel, was the person who told the chief executive last week that a whistleblower had reported irregularities regarding the results for the last six months. That led to a statement on Monday, the suspension of four senior executives and the appointment of accountant Deloitte as well as Freshfields Bruckhaus Deringer to carry out an investigation.
'Informed employee'
Shares fell 11.8 per cent after trading began, reflecting expectations that the true profits are thought to some 25 per cent lower than previously forecast. The overstatement relates largely to ‘the accelerated recognition of commercial income and delayed accrual of costs’, according to a statement from the food retailer. An ‘informed employee raised concerns to our general counsel’, said chief executive Dave Lewis. Source: Daily Telegraph
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