Companies

Steinhoff class action

Allan Gray, along with other South African institutions, is participating in a class action case being run in the Netherlands by Dutch law firm BarentsKrans to pursue claims on behalf of investors who suffered losses as a result of the collapse in the share price of global retailer Steinhoff in December 2017.

The case is being fully funded by Claims Funding Europe, a litigation funding company based in Dublin, Ireland.

We bought a relatively small position in Steinhoff in October 2017, after the share had underperformed meaningfully, and our clients’ holdings represented 1.3% of Steinhoff at close of market on 6 December 2017. We have since sold out of that position.

We believe that the circumstances merit these attempts to recover the losses incurred by our clients. Participating in this legal route is, therefore, our preferred option.

As the case is being fully funded, there is only upside to our clients should the case be successful.

The financial services, products or investments referred to on this website are not available to persons resident in jurisdictions where their availability or distribution would contravene local laws or regulations and the information on this website is not intended for use by these persons. This website is for information only and does not in any way constitute a solicitation or offer by Allan Gray Proprietary Limited or any of its associates or subsidiaries (collectively “Allan Gray”) to buy or sell any financial instruments or to provide any investment advice or service.

By selecting one of the countries below I confirm that I have read and understood the above and that:

(a) I am not a South African citizen; or 
(b) I do not reside in the Republic of South Africa; or 
(c) I am not otherwise a person to whom the communication of the information contained in this website is prohibited by the laws of my home jurisdiction; and 
(d) I am not acting for the benefit of any such persons mentioned in (a),(b) and (c) and 
(e) I confirm that any investment with Allan Gray is based on my own initiative and not due to any offer or solicitation by Allan Gray.