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.
Robert joined Fideres in 2014. Over the past 5 years, Robert has acted as a consulting expert and assisted testifying experts in over 10 high-profile cases covering various stages. Robert leads the financial market investigation team who are actively involved in cases in relation to interest rate manipulation (ISDAfix, LIBOR, CDOR), auction manipulation (US and Mexican Treasuries) and benchmark manipulation (VIX). He also leads the technology sector investigation team in relation to the DRAM price-fixing allegations. Robert completed his MSc in Risk Management and Financial Engineering at Imperial College with distinction. Prior to this, he obtained a BSc Economics degree from Shanghai University of Finance and Economics.