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South African media cover Steinhoff class action

A team of VEB/European Investors visited South Africa last week to meet with (potential) clients, inform relevant stakeholders (including ASISA, the local federation of investment firms) on our Steinhoff class action and discuss recent developments. The visit was widely covered by leading financial media in South Africa. In an interview with Fin24, the largest digital publisher in South Afr...
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VEB/EUROPEAN INVESTORS SERVES A WRIT OF SUMMONS AGAINST STEINHOFF COMMENCING ITS CLASS ACTION

On 2 February 2018 VEB/European Investors served a writ of summons on Steinhoff International Holdings N.V. commencing its action based on Article 3:305A of the Dutch Civil Code (class action). VEB/European Investors primarily holds Steinhoff liable for all losses incurred by Steinhoff shareholders. Steinhoff acted unlawfully towards its shareholders by providing incorrect/misleading informatio...
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UPDATE: EUROPEAN INVESTORS TAKES UP SHAREHOLDERS’ CAUSE AT STEINHOFF

European Investors and Dutch Investors’ Association VEB have invited Steinhoff International Holding NV to start a dialogue on how to protect shareholders having incurred damages as a consequence of misleading representations. Their interests warrant protection on account of the plummeting share price of Steinhoff. European Investors has sent out a letter which notifies the Board and Superviso...
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European Investors comments on changes to the UK Takeover Code

European Investors submitted its comments on the Public Consultation Paper of the Code Committee of the Takeover Panel with regard to statements of intention and related matters. The Takeover Panel is the independent body responsible for issuing and administering the Takeover Code in the United Kingdom. The consultation seeked views on important reforms to the way takeovers operate in the UK. C...
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European Investors welcomes changes in the new Prospectus Regulation

European Investors’ Association (EIA) welcomes the changes in the new Prospectus Regulation. In our response on the public consultation of the European Securities and Markets Authority (ESMA), we stressed the importance of ensuring that the overarching goals of the regulation are well reflected and developed in Level 2. The objective of the Prospectus Regulation is twofold: making accession to ...
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VEB endorses the EC-recommendation for an opt-in model for collective redress

The Dutch Investors’ Association VEB has, also on behalf of European Investors’ Association, submitted its response on the European Commission’s call for evidence on Collective Redress arrangements throughout the EU. VEB prides itself on being the leading Dutch collective redress organisation. It is widely reputed for successfully upholding investor rights through either litigation or settlemen...
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“Audit reality”

5 April 2017 - Speech by Paul M. Koster, Chairman of European Investors and Chief Executive of the Dutch Investors' Association VEB, at the IFIAR Tokyo Plenary Week: Today, ladies and gentlemen, I like to talk about audit quality and audit quality, in particular, in relation to shareholders, a group that I represent. Regulators over the last decade have greatly impacted the discussion about aud...
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European Investors expresses strong support for FSB’s recommendations on climate-related financial disclosures

15 February 2017 – On 14 December 2017, the Task force on Climate-related financial disclosures (TCFD), set up by Financial Stability Board (FSB), published an important report outlining its recommendations for disclosures on the financial impact on climate change. These recommendations aim to make such disclosures more decision-useful and consistent, an objective strongly support by European Inve...
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BTs accounting scandal: Will auditors (again) go unpunished?

9 Februari 2017 - Accounting scandals at listed firms often turn out to be much bigger than initially expected, investors know better than anyone. Last month, BT - formerly British Telecom –announced it had to take a write down of £530m, more than three times the expected amount. In the fall of 2016, through a whistleblower, BT first discovered “inappropriate behaviour” at its Italian branch. Dub...
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European Investors concerned about new target market rules

13 January 2017 - As of 3 January 2018, distributors of investment products will be required to define a target market for each of the products they include in their product assortment and intend to recommend to their clients. This target market should describe for whom a particular product is intended. In principle, European Investors is very supportive of the new product governance rules introd...
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