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Steinhoff’s first half-year report raises questions,

Posted on by Nick
Investors request more information on current state of affairs at Steinhoff Seven months after the widespread accounting irregularities came to light, Steinhoff issued its half-year report for the six months ended 31 March 2018. The half-year results, also containing the unaudited restated half-year condensed financial statement for the six months ended 31 March 2017, provide investors with some ...
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VEB takes Deloitte to court for losses incurred by Steinhoff investors

Posted on by Nick
PRESS RELEASE   VEB takes Deloitte to court for losses incurred by Steinhoff investors  The VEB has summoned Deloitte Accountants to appear before the District Court of Rotterdam for the losses incurred by the Steinhoff shareholders. Deloitte, incorrectly providing an unqualified auditor’s report on Steinhoff’s financial statements for 2016, seriously failed to fulfil its duties as laid down by...
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European Investors contributed to 2018 Financial Integration Conference

Posted on by Nick
On 3 May 2018 Niels Lemmers, Managing Director at European Investors, participated as a panellist in the 2018 Financial Integration Conference, organised jointly by the European Central Bank and the European Commission. His panel will be devoted to the role of institutional investment for the Capital Markets Union (CMU). The role of institutional investors in financial integration and capital m...
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European Investors attended the Eurofi High Level Seminar 2018 in Sofia

Posted on by Nick
European Investors participated in the Eurofi High Level Seminar 2018 in Sofia on 25, 26 and 27 April 2018. The event was organised by Eurofi (the European think tank dedicated to financial services) in association with the Bulgarian EU Council Presidency. Highlight of the conference was a presentation by Michel Barnier, chief negotiator for the EU in the Brexit discussions, who described Brexi...
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VEB notifies banks of holding them liable for damages incurred by Steinhoff investors

Posted on by Nick
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

Posted on by Nick
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

Posted on by Nick
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

Posted on by Nick
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

Posted on by Nick
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

Posted on by Nick
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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