Beyond Kenya: Class Action Lawsuit Against Steinhoff, Deloitte, Current & Former Directors filed

By Soko Directory Team / Published August 10, 2018 | 9:01 am

LHL Attorneys on Wednesday filed a prospective class action proceeding at the South Gauteng High Court in Johannesburg, South Africa over what it alleges was the destruction of over €12 billion (ZAR 185 billion) in shareholder value resulting from the long-running accounting irregularities at Steinhoff. It is seeking the recovery of those losses.

Defendants in the lawsuit include Dutch incorporated Steinhoff International Holdings NV, its South African predecessor Steinhoff International Holdings, Absa, Germany’s Commerzbank AG, UK-based bank Standard Chartered Bank, auditors Deloitte and Rödl & Partner, and several former and current board members including former CEO of Steinhoff International Holdings and Steinhoff International Holdings, NV, Markus Jooste, former CFO Ben la Grange and ex-Chairman and South African billionaire Christo Wiese

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