In the Maurice Blackburn/Imf class action it clearly states that if the action is unsuccessful the case funder will bear the costs.
If the action is successful the only monies received by the said parties is a percentage of the amounts won for each individual.In the Imf class action i seem to remember a figure of 20%
Maurice Blackburn are suing for shareholders losses,interest on those losses and costs.
I would presume that the Slater and Gordon class action would have similar terms.
Shareholders are sometimes scared off persuing these cases because they presume that they will be up for huge lawyers bills as these cases can last for years.
If that was the case these case funders and lawyers would not have many shareholders signing these funding agreements.Remember the more shareholders who sign up the more monies they eventually receive.
These case funders and lawyers don't take these actions on unless they have a very good chance of winning.
OZL Price at posting:
$16.55 Sentiment: Hold Disclosure: Held
