A sign is seen in a Poundland store in London

Steinhoff says investors to suspend legal battle as firm recovers

JOHANNESBURG (Reuters) - Steinhoff said on Wednesday investors who are suing the crisis-hit firm had agreed to suspend litigation until next year, allowing the retailer time to focus on its recovery.

The lawsuit brought in the Netherlands was aimed at compensating investors for the more than 14 billion euros ($16 billion) wiped off Steinhoff's market value since the retailer uncovered accounting irregularities last year.

(Reporting by Tanisha Heiberg; Editing by James Macharia)

2018-10-17 18:16:42

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