Steinhoff receives more than 43,000 claims in first-of-its-kind payout
Multinational retailer has received claims from pension and investment funds holding stock that plunged after huge accounting fraud
20 May 2022 - 10:49
UPDATED 22 May 2022 - 18:05
Steinhoff pension fund and institutional investors may get as much as 22% of what they claim in the first-of-its-kind payout for shareholders who lost most of their investment after the share price crashed in the wake of fraud.
Steinhoff’s share price plunged more than 90% in December 2017 when accounting irregularities were made public, resulting in more than 100 lawsuits entailing more than R180bn from more than 8,300 investors who said they were duped into buying worthless shares...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.