Speed is of the essence because Steinhoff is not in good health... Pursuing the claims solely against Steinhoff is risky. The company is on the brink of collapse…— Zain Lundell, LHL Attorneys
We’re going after entities who are complicit [not only Steinhoff]… We’re not here to try and bankrupt Steinhoff… there are a lot of defendants to go after…— Zain Lundell, LHL Attorneys
The longer the lawsuit against Steinhoff takes to wrap up the less likely it becomes that shareholders will recover any losses, according to the International Steinhoff Litigation Group.
The International Steinhoff Litigation Group is a collection of law firms representing Steinhoff shareholders from the US, the Netherlands, Germany and South Africa.
Lundell worries that competing individual cases sought by institutional shareholders may destroy the chance for a global solution, and may drive Steinhoff into bankruptcy.
Listen to the interview in the audio below.
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