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Steinhoff International Holdings (The Netherlands)

The Firm is representing and funding a number of institutional investors in securities litigation in The Netherlands against Steinhoff International Holdings N.V. (“Steinhoff”), their auditors Deloitte & Touche, and certain former and current Steinhoff directors after Steinhoff revealed in December 2017 that it had discovered severe accounting irregularities related to EUR 6 billion in assets for its European operations.  The Firm, its partners, and Dutch counsel filed Inquiry proceedings before the Enterprise Chamber of the Amsterdam Court of Appeals in February 2019.  The purpose of the Inquiry Proceedings was to ask the Dutch Court to investigate Steinhoff and determine whether the Company violated Dutch corporate law.  We have since filed an action for damages against the Steinhoff defendants in December 2019.  Both cases are ongoing.