At the end of 2017, one of the biggest accounting scandals came to light within Steinhoff group, a global retailer with headquarters in South Africa and the Netherlands and a listing on the German Frankfurt Stock Exchange. In the wake of the scandal, the company had to engage in a large-scale restructuring exercise.
The claim involved litigation in three different jurisdictions, including, as part of such multi-jurisdictional approach, one of the biggest class actions in South Africa. Investors’ claims were ultimately settled in 2021 as part of the restructuring.
Therium had provided litigation funding on a global basis with its partner firm DRRT, enabling coordinated actions in South Africa, the Netherlands and Germany, with the view to effectively securing redress for investor losses.
Securities Claim/ Shareholder Dispute / Group Litigation / Collective Redress / Investor Loss
Retail
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