Friday, October 3, 2008

Update on the Doom and Gloom!

Our CEO, Stephen Koseff, has come out with a statement that the claims lodged against Investec have no merit whatsoever! To cut a long story, certain members of the fund are Union members and have already tried to sue our Directors. The High Court dismissed the claims and ordered them to pay all costs - that was back in 2005. IEB has insurance which will cover these claims, but Investec are confident that nothing will come of them.

"Investec prides itself on its reputation and integrity and rejects unequivocally all accusations. These matters are the subject of litigation and Investec will respect the Court and not litigate via the media!"

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