83
Fashion Jobs
ESTÉE LAUDER COMPANIES
Customer Supply Chain Manager
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ABBOTT
Snr Regulatory Affairs Portfolio Manager
Permanent · JOHANNESBURG
AVON
Supply Planner
Permanent · JOHANNESBURG
AVON
Supply Planner
Permanent · JOHANNESBURG
ADIDAS
Senior Manager Digital Activation - em South
Permanent · CAPE TOWN
ESTÉE LAUDER COMPANIES
Customer Supply Chain Manager
Permanent · JOHANNESBURG
BEIERSDORF
Senior Brand Manager, Eucerin
Permanent · DURBAN
ABBOTT
Demand Planner
Permanent · JOHANNESBURG
ABBOTT
Enterprise Solution Director Africa
Permanent · JOHANNESBURG
ABBOTT
Finance Controller – Ani South Africa
Permanent · JOHANNESBURG
ABBOTT
Brand Manager
Permanent · JOHANNESBURG
PROCTER&GAMBLE
Hybrid Sales Representative - Western Cape South Coast
Permanent · SANDTON
PROCTER&GAMBLE
Retail Sales Representative - Kzn South
Permanent · SANDTON
PROCTER&GAMBLE
Site Security Manager
Permanent · JOHANNESBURG
PROCTER&GAMBLE
Regulatory Affairs Associate Scientist
Permanent · SANDTON
PROCTER&GAMBLE
Senior Manager - Media Buyer
Permanent · SANDTON
PROCTER&GAMBLE
Hybrid Sales Representative - Eastern Cape
Permanent · SANDTON
PROCTER&GAMBLE
Senior Sales Manager
Permanent · SANDTON
PROCTER&GAMBLE
Purchasing Manager
Permanent · SANDTON
PROCTER&GAMBLE
Finance Manager
Permanent · SANDTON
By
Reuters
Published
Oct 1, 2018
Download
Download the article
Print
Text size

South African investors back Steinhoff class action lawsuit

By
Reuters
Published
Oct 1, 2018

South African investors including Allan Gray, Investec’s asset management arm and Old Mutual are backing litigation against crisis-hit Steinhoff in the Netherlands, they said on Friday.

Reuters


The investors represented about 20 percent of the shareholding in Steinhoff when the South African retailer uncovered accounting irregularities last year that sent its share price tumbling, a statement from representatives of the investors said.

The case is being paid for by Claims Funding Europe, a litigation-funding company based in Ireland, and run by Dutch law firm BarentsKrans.

It is separate from a class action brought by the Dutch shareholder group VEB, whose lawsuit is aimed at compensating investors for the more than 14 billion euros ($16.23 billion) that has been wiped off Steinhoff’s market value since December last year.

“We believe the circumstances merit these attempts to recover the losses incurred by our clients,” Allan Gray, which had a shareholding of around 1.3 percent in Steinhoff before its market value plummeted, said in a statement.

“Participating in this legal route is, therefore, our preferred option.”

Steinhoff is also facing a 59 billion rand ($4.15 billion) claim from former chairman and top shareholder Christo Wiese.

© Thomson Reuters 2024 All rights reserved.