Former business partner hits Steinhoff with civil suits in three countries
The suits are being brought in Germany, the Netherlands and Austria
London — While shareholders prepare to sue Steinhoff International Holdings after its steep share decline this month, a former business partner has beaten them to the punch, filing lawsuits in three countries over the retail giant’s accounting. Andreas Seifert opened civil suits against Steinhoff in Germany, the Netherlands and his homeland of Austria through his OM Handels, according to a statement from his group. Steinhoff committed false accounting by not acknowledging Seifert’s shareholdings in POCO Einrichtungsmärkte, a German furniture retailer, and Conforama France, a French homeware store, the statement said.
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