You are part correct... The investigation IS going ahead. When (or if) that finishes, the class action may or may not go ahead depending on what they find. See announcement notes below.
"Litigation funders Woodsford Litigating Funding and JustKapital Litigation Funding are providing funding for the investigation. The funders will fund a class action against Slater & Gordon should the investigation conclude Slater & Gordon has breached its continuous disclosure obligations and the Australian Consumer Law and there is sufficient support from qualifying past and present shareholders."
It clearly states JKL is firstly funding an investigation and subsequently A class action if a breach is identified. I believe it would say THE class action if it was already going ahead.
1. JKL trickily announced this because they have to report what they are doing with shareholder $$$ and also I believe to gain exposure. No doubt they still have the choice to fund a potential class action if it even goes ahead. Wouldn't surprise me at all if they pulled out at the end of the investigation regardless of the result.
2. Agreed. And IF a class action moves ahead it will be very well advertised. Media will be all over it...which they aren't yet so certainly no class action yet. Not to say one won't be coming though
SGH Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
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