Steinhoff case helps courts to get clarity on class actions against directors
The high court’s refusal illustrates the significant hurdles involved for shareholders
25 February 2021 - 14:35
Unlike development driven by legislative reform, the evolution of the common law through the process of judicial precedent takes time. Unfortunately, the law surrounding class actions in SA has not had the benefit of a legislative punt to speed up the process of legal development.
For this reason, the high court’s recent decision refusing to certify a shareholder class action against a company’s directors, in the case of De Bruyn vs Steinhoff International Holdings and Others, is of great interest — particularly in illustrating the significant hurdles involved...
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