Dec 3, 2019
Steinhoff Faces Legal Action From PIC Over Release of PwC Report
, Bloomberg News
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South Africa’s Public Investment Corp., the continent’s biggest fund manager, said it’s preparing court papers to try and force Steinhoff International Holdings NV to release PwC’s full report on what led to the retailer’s accounting scandal.
Steinhoff didn’t respond to a letter demanding the report, PIC’s head of legal services Lindiwe Dlamini said in parliament on Tuesday. “And now we have to prepare the papers in order to have all the information we need to pursue the past directors.”
The global retailer is also being challenged in a South African court by two media outlets to release the 7,000-page report.
To contact the reporter on this story: Paul Vecchiatto in Cape Town at pvecchiatto@bloomberg.net
To contact the editors responsible for this story: Gordon Bell at gbell16@bloomberg.net, Renee Bonorchis, Helen Nyambura
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