Author Archives: Alexi

Steinhoff class action moves up a gear, how to be part of it

Overnight one of the big talking points in business was an historic gathering of disgruntled shareholders to put together the first ever securities class action South Africa has ever seen. The disgruntled held shares in the troubled conglomerate Steinhoff and they were in Johannesburg to look at their legal options. CNBC Africa’s Monique Vanek filed […]

Class action firm reveals Steinhoff litigation road map

Arabile Gumede and Nastassia Arendse, 30 October, 2018 Leading South African class action law firm, LHL Attorneys, together with representatives from the International Litigation Group, are holding conferences in Cape Town and Joburg to get investors up to speed with global litigation efforts launched by the group to assist shareholders with the recovery of losses […]

PSA: Steinhoff International Holdings class action – PSA joins litigation group

Press Statement dated 2 November 2018 The Public Servants Association (PSA) is set to encourage the Government Employees Pension Fund (GEPF) and the Public Investment Corporation (PIC) to join a class action against Steinhoff International Holding to recoup money lost owing to ‘accounting irregularities’ that lost shareholders billions in 2017. The PSA met with representatives […]

Investors file class action in South Africa against Steinhoff, its directors, auditors and further responsible parties

Johannesburg, South Africa, 8 August, 2018 Steinhoff accounting irregularities: South African class action filed against Steinhoff, Deloitte, ABSA Bank, Standard Chartered Bank, Commerzbank, PSG Capital, current and ex-directors of Steinhoff, and others to compensate Steinhoff investors regarding the €12 billion (ZAR 185 billion) in shareholder value destroyed by the various defendants. A prospective class action […]