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VEB notifies banks of holding them liable for damages incurred by Steinhoff investors

On 18 April 2018 - The Hague VEB has notified Commerzbank AG, ABSA Bank Limited and Barclays Bank PLC that it holds them liable for damages incurred by Steinhoff shareholders. Commerzbank AG, ABSA Bank Limited and Barclays Bank PLC acted in distinct and various capacities as ‘Bankers to the Company’, ‘Listing Agent’, and/or ‘Transaction Sponsor’ for the two prospectuses issued by Steinhoff o...
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VEB/European Investors holds Deloitte liable for damage incurred by Steinhoff investors

The VEB has held Deloitte Accountants B.V. and Deloitte & Touche South Africa liable for the damage incurred by the Steinhoff shareholders. Deloitte Accountants B.V. issued an unqualified auditor's report on Steinhoff’s financial statements for 2016. Deloitte & Touche South Africa issued an unqualified auditor’s report on the financial statements for 2015. In part due to the two sets of...
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European Investors invites to you to attend the Global Invest Forum

This year again, European Investors is proud to support the Global Invest Forum, L’AGEFI’s yearly Parisian meeting for European investors and asset managers! Join this exclusive conference next October 11 and 12 in Paris and meet your 500+ peers! If you are an institutional investor, you can request a free pass to the event by following that link . If not, you can still benefit from a spec...
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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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European Investors participates in the Eurofi Financial Forum 2017

European Investors participated in the Eurofi Financial Forum 2017 (“What way forward for the EU27 and Eurozone?”) in the Estonian capital of Tallinn on 13, 14 and 15 September 2017. This event was organised by Eurofi (the European think tank dedicated to financial services), in association with the Estonian EU Council Presidency. Mr. Niels Lemmers, managing director of European Investors, cont...
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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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