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Some minority shareholders of Tongaat say the sugar producer can get enough money from suing Deloitte, KPMG, and its former audit committee members that it would not need to issue more shares.
A month ago, Tongaat announced that it was finally pursuing a civil claim against Deloitte.
Deloitte, which has been the company’s auditor for many decades, signed off on irregularities in Tongaat's financial statements from 2011 to 2018. The misstatements inflated Tongaat's financial position by almost R12 billion.
