Steinhoff claims total R53.5bn

Retailer Steinhoff has been informed it faces roughly €3.2 billion (about R53.5 billion) worth of claims in its settlement with shareholders who lost money when its stock plunged after the accounting fraud revelation in 2017, it said.

The foundation set up to administer the distribution of funds to claimants told Steinhoff it has received more than 43 000 claims, it said. –