The €1.4B Steinhoff Securities Fraud Settlement
March 2, 2022 Case Developments, Commercial, Premium
Steinhoff International Holdings NV recently settled the European Union’s second largest securities fraud claim, finalizing three years of complex contentious negotiations. Steinhoff, a Dutch firm with headquarters in South Africa, once operated over 40 retail brands across 30 countries. At its pinnacle, Steinhoff was valued at nearly €20B … and then in December 2017, Steinhoff disclosed accounting irregularities and the stock plunged 90%.
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