Rubicon Impact & Litigation regularly represents (minority) shareholders and investors who have fallen victim to deception, fraud, or other manipulation. In these complex cases, Rubicon Impact & Litigation’s expertise in collective action and corporate law often intersect, placing our team in an excellent position to handle these cases successfully. An example of a successful collective securities action is the large-scale fraud case against Steinhoff, in which several Rubicon Impact & Litigation attorneys, each from their own discipline, were involved. These attorneys collaborated with Grant & Eisenhofer and KTMC.
In this case, our team represented The Public Investment Corporation, South Africa’s public pension fund and largest asset manager, along with other institutional investors concerning the accounting fraud at the South African company Steinhoff. Steinhoff lost nearly 90 percent of its market value in early December 2017, resulting in €12 billion in shareholder losses. With the assistance of Rubicon Impact & Litigation attorneys, the dispute concluded with a global settlement of EUR 1.6 billion, one of the largest securities settlements outside the United States to date.
Transparency and fairness are essential to protect investor trust and rights. Securities litigation plays a crucial role in upholding these principles by addressing violations like fraud or breaches of fiduciary duties. This way, securities litigation protects shareholders and investors against corporate malpractice. When companies fail to disclose significant information or misrepresent their financial position, this can lead to considerable financial losses for investors. Legal action not only aims to recover these losses but also to hold companies accountable.
At Rubicon Impact & Litigation, we specialize in securities litigation and are also exploring how to apply such procedures to new topics, such as ESG. Are you an affected investor or suspect fraud or deception? Please contact us. Our team is here to help you.
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