Africa: Why South Africa Needs Formal Rules for Class Action Lawsuits

analysis

What do Ford, AngloGold Ashanti, Gold Fields and Tiger Brands have in common? They are just a few of the well-known companies in South Africa facing class actions: lawsuits filed on behalf of a group.

The international retail group Steinhoff could soon join the list. South African shareholders and the Dutch Investors Association plan to launch a lawsuit against Steinhoff following allegations of accounting fraud.

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