Plus   Neg

Steinhoff Considers Alternative Approaches To Concluding Irregularities Claims

South African retailer Steinhoff International Holdings, which faces accounting irregularities that invited a number of litigations and claims said it intends to see if there are alternative approaches to concluding claims, including settlement following negotiations.

The company, however does not guarantee that the settlements will be agreed to or will happen immediately.

Steinhoff said it has requested the claimants' representatives to disclose the relevant information to the company besides the identity of the claimants and the size of their stake in the company "for those claimants which they contractually represent."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA announced on its website that pharma major Pfizer, Inc. issued recall of two lots of tablets meant to treat acute migraine in adults for concerns over bacteria infection. The pharma company is recalling two lots of Relpax (eletriptan hydrobromide) 40 mg tablets for potential presence of Genus Pseudomonas and Burkholderia bacteria. Cosmetics company Revlon Inc. (REV) is reportedly considering a potential sale of parts or all of its business. According to Bloomberg, Revlon has retained financial advisers from Goldman Sachs Group Inc. to explore strategic alternatives. No deal has been reached yet, but Revlon is exploring all... China's Lenovo Group Ltd. warned it may have to raise prices of its products if the U.S. moves ahead with the decision to impose additional tariffs on Chinese goods, according to a report by Reuters. The warning by Lenovo, the world's largest PC maker, comes amid the escalating trade war between the U.S. and China that has raised concerns about the global economic outlook.