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Implementation of Steinhoff-settlement: European Investors-VEB settlement with Deloitte

As a result of the fraud committed at Steinhoff International Holdings N.V. ("Steinhoff"), which came to light in December 2017, investors in securities issued by Steinhoff suffered losses. The VEB has actively sought a contribution from the Dutch firm of Deloitte and its counterpart in South Africa (jointly: "Deloitte") to help compensate investors in Steinhoff securities for losses suffered as a...
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New currencies require a broad response by gatekeepers

Bitcoin has been around for more than 10 years, but the gatekeepers of our fiat money have yet to make a convincing case for how cryptocurrencies and fiat money will co-exist in our financial system. Why we need to do more to maintain trust in our currencies By Paul Koster, CEO European Investors Can you believe it? One Bitcoin can now buy you two Fiat 500's (provided the dealer accepts Bitcoin...
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European Investors-VEB requests clarification from Unilever about the decision to complete the unification

Investor representative European Investors-VEB asks Unilever to clarify the decision to complete the unification of the former British-Dutch group on 30 November 2020. In previous communication, Unilever had indicated that the Exit Tax bill by GroenLinks MP Bart Snels could jeopardise the unification. In the prospectus, the possible additional tax assessment of 11 billion euros was assessed as ...
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European Investors to open offices in Berlin

European Investors takes great pleasure in announcing the establishment of its Berlin ‘virtual’ offices on 15 December 2020. The address is at Unter der Linden 21, Berlin 10117, Germany. This establishment in Germany entitles European Investors to attain membership of the German Verbändeliste (a panel of associations), giving European Investors entry to the German political arena. European Inve...
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European Investors-VEB settles with Deloitte in connection with Steinhoff settlement.

European Investors-VEB withdraws collective action against Deloitte in Steinhoff case As a result of the fraud committed at Steinhoff International Holdings N.V. ("Steinhoff"), which came to light in December 2017, investors in securities issued by Steinhoff suffered losses. European Investors-VEB, as a collective representative organization under article 3:305a Dutch Civil Code, had started a ...
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Unprecedented levels of capital markets funding in the first half of 2020

European Investors is a proud partner of the third edition of the “Capital Markets Union Key Performance Indicators” report published today by AFME. EU capital markets will be pivotal in promoting long-term economic growth and a recovery from the severe impacts of the COVID-19 crisis. The Report This year’s report arrives during an extremely challenging period for European economies. Engulfed ...
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European Investors-VEB demands investigation on trading by Bafin employees in Wirecard

Wirecard Scandal lays bare the need for trading restrictions for BaFin employees Today European Investors-VEB addressed a letter to German vice chancellor and finance minister Olaf Schulz. The reports over the weekend of BaFin staff transacting in Wirecard shares, cause huge indignation and European Investors-VEB strongly feels this calls for decisive and drastic action. Investigation into Wir...
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European Investors-VEB summons EY for market manipulation in Wirecard scandal

European Investors-VEB summons auditing firm EY in Germany before a Stuttgart court for its role in the Wirecard scandal. EY has been Wirecard AG’s independent external auditor for years. European Investors-VEB believes that the firm’s audit procedures qualify as manifest violations of the auditor’s duty of care. In particular, European Investors-VEB focuses on EY’s conduct as from 28 April ...
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European Investors-VEB supports Steinhoff’s global settlement proposal and withdraws collective action

European Investors-VEB has taken note of the global settlement proposal as communicated by global retailer Steinhoff International Holdings N.V. (“Steinhoff”) in its press release dated 27 July 2020. Steinhoff’s proposal sets out, amongst others, that, without any admission of wrongdoing, an amount of 266 million euro will be made available by Steinhoff to investors that suffered damages arising o...
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European Investors – VEB questioning due diligence done by banks on Wirecard at the issue of the Notes

European Investors - VEB seeks compensation from four European banks having acted as Joint Global Coordinators or Joint Bookrunners for the significant damage the Noteholders have incurred in consequence of the banks’ deficient due diligence on Wirecard A.G. as the issuer in September 2019. Paul Koster, CEO of European Investors - VEB: “These banks should function as gatekeepers for investor...
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