SGH 0.00% 54.5¢ slater & gordon limited

Ann: Market Update Amendment to Syndicated Facility Agreement, page-355

  1. 4,941 Posts.
    lightbulb Created with Sketch. 147
    ACA’s CA is being funded by JustKapital - JKL (refer ASX 22/3/16) - but equally refer to the AFR of 12/10/16 and ACA's press release of 12/10/16;
    ----
    JustKapital Litigation Partners Limited ("JustKapital" or "the Company") is pleased to announce that, together with London based Woodsford Litigation Funding Limited ("Woodsford"), it has agreed the terms of a conditional funding agreement with leading class action lawyers ACA Lawyers to prosecute a class action against listed law firm Slater & Gordon on behalf of shareholders who have suffered losses.



    MB’s CA is being funded by litigation funder International Litigation Partners.

    http://www.copyright link/news/slater--gordon-faces-250m-class-action-20161011-gs090c#ixzz4dKEElzSf

    In the same article it was also suggested that the D&O policy might be $150M:
    ----
    He said in relation to the Slaters action, Maurice Blackburn will recover funds – as much as $150 million – from directors and officers liability insurance.

    The article also went on to suggest further possible recoveries:
    ----
    Maurice Blackburn may also recover additional funds if Slaters pursues the advisers involved in the disastrous $1.3 billion acquisition of Quindell, investment banks Greenhill and Citi and auditor EY. Slaters is already proposing a
    legal action against Watchstone Group, the remnants of the British company Quindell.

    Of the funders referenced in another of your posts
    23856105
    , Hillcrest is no longer around and International Litigation Partners is funding the MB CA. IMF Bentham is not involved. Historically, it has funded both MB and SGH actions against others, not against each other. Don’t know about Comprehensive.

    ----
    The market has been dominated by IMF Bentham Limited but there are a number of other funders, both domestic and overseas-based operating in Australia, for example, Comprehensive Legal Funding LLC, Hillcrest Litigation Services Limited and International Litigation Funding Partners Pte Limited.


    From ACA’s perspective, the website states (accessed, today, 5/4/17, so therefore considered current) that JKL and International are funding their investigation and will (if proceeded with) their CA:
    ----
    Woodsford Litigating Funding and JustKapital Litigation Funding are providing funding for the investigation. The funders will fund a class action against SGH should the investigation conclude SGH has breached its continuous disclosure obligations and the Australian Consumer Law, and there is sufficient support from qualifying past and present shareholders.
    http://www.acalawyers.com.au/slater-gordon

    So, the news cannot simply be considered 18M old but rather as being first announced in Mar16 (12M ago), updated and referenced in media and in press releases in Oct16 (5M ago) and currently set out and referenced in as part of their SGH CA website detail (now).
 
watchlist Created with Sketch. Add SGH (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.