Does anyone know why this is price sensitive? It seems like an announcement for an announcements sake. It looks like a new strategy in the last 6 months to announce every class action settlement and then approval. Maybe they will do the same for each new filing as well. But to call them price sensitive is a bit rich without any financial context.
I read in the media that to get this settlement Shine agreed to cap their fees and disbursements at $5 million. This means that there will be a write off above that, perhaps in the millions. Maybe the write off being well in excess of any provision is the price sensitive part.
Either way it should be a problem for next financial years books with the write off and the cash being dealt with after 30 June for sure.
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