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Case Spotlight: Steinhoff Settlement Approaching Final Approval

Case Background  Steinhoff International Holdings NV (“SIHNV”) is a global investment company that engaged in the manufacture and retail of furniture, household goods, and clothing. Steinhoff Internal Holdings Proprietary Limited (“SIHPL”) is a South African holding company for SIHNV subsidiaries (together with SIHNV, “Steinhoff”). Steinhoff now seeks a €769M global settlement relating to allegations that it entered into a number Continue Reading

Case Spotlight: Bayer AG

Case Background On June 7, 2018, Bayer AG completed its $62 billion acquisition of Monsanto Corp., a U.S. agrochemical company. Plaintiffs allege that between 2016 and 2019, in violation of German securities laws, Bayer failed to disclose the massive liabilities Monsanto faced from personal injury suits related to its herbicide Roundup: 8,700 at the time of merger and more than Continue Reading

Case Spotlight: Steinhoff Nearly Doubles Settlement Offer

Summary: The revelation of accounting irregularities led to a 90% fall in Steinhoff’s share price. Proposed class action settlements currently total €769 million. Investors are eligible to participate in class actions if they traded in Steinhoff shares between March 2, 2009 and December 5, 2017. Participation deadline has yet to be determined, but not before December 2021. Case Background Steinhoff International Continue Reading

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