Deloitte, Steinhoff set to face massive class action law suit

File: Accounting firm, Deloittefor is to face legal action for its role in auditing Steinhoff's financial statements. Photo: REUTERS/Hannah McKay

JOHANNESBURG – Both Steinhoff and accounting firm Deloitte are set to face a huge class action suit from one of Europe's mass litigation firms.

The Barents-Krans firm says people who acquired Steinhoff shares between June 2013 and the 6th of December 2017 can register online to participate.

In December, the retail giant's shares plummeted over 80-percent after accounting irregularities were revealed.

READ: PSA parade against Steinhoff's Jooste at SunMet

Legal action is being taken against Deloitte for its role in auditing Steinhoff's financial statements. Steinhoff's CEO, Markus Jooste, resigned in the wake of the revelations.

Jooste was today reported to the Hawks on suspicion of offences under the Prevention of Corruption Act.

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