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Fideres Advises on Steinhoff Securities Litigation

By February 28, 2022August 3rd, 2022News1 min read

Fideres was retained by Evers Soerjatin on a Dutch securities litigation case against Steinhoff International Holdings NV, funded by Burford Capital. The Steinhoff settlement is the second largest securities litigation claim against a European issuer.

In December 2017, Steinhoff’s share price dropped significantly after the company announced an investigation by its consultant PwC into accounting irregularities. The securities claim was a group action on behalf of Steinhoff shareholders who paid inflated prices for their shares.

Fideres provided consulting expert work including estimation of individual claimant damages as well as estimating the level of artificial inflation of the share price over time.

The case settled for EUR 1.4bn in February 2022.

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