Deloitte, Steinhoff set to face massive class action law suit


Offices of Deloitte are seen in London, Britain, September 25, 2017.

JOHANNESBURG – Both Steinhoff and accounting firm Deloitte are set to face a huge class action suit from one of Europe&39;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&39;s shares plummeted over 80-percent after accounting irregularities were revealed.

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Legal action is being taken against Deloitte for its role in auditing Steinhoff&39;s financial statements. Steinhoff&39;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.