The AFR published an article last night entitled, "Getswift...

The AFR published an article last night entitled, "Getswift class actions hardly a hit with shareholders."

https://www.copyright link/brand/re...ardly-a-hit-with-shareholders-20180808-h13pcs

The author states, "Squire Patton Boggs had signed up just 2 per cent of shareholders, with their claim being valued at a total of $2 million."

To summarize, these law firms have gone from claims of $300m to $150m to $75m and now to $2m!

In addition, there is chatter that perhaps all institutions have opted out.

Now what-- GSW is trading below cash value. They are insured and the only ones out for blood seem to be the class action attorneys (with few followers). Based on all the information I have at my disposal, the risk-reward in this security is tremendous. I am not defending previous behavior.  I don't believe they acted maliciously although they clearly did not have the support structure in place that would serve as an appropriate means of checks and balances.  Their failure was being overly promotional and clearly not something I expect from experienced public market leaders. Companies can get away with this on the private side but public markets demand executives who understate their objectives.

That being said, changes have been made, the product is very real (and good), recent hiring is encouraging, and every App analytics provider seems to suggest that the Company is rolling out beyond SMEs. I am excited for the 3rd quarter. While some argue that GSW did not deserve its meteoric rise, I will argue that the pendulum has certainly swung too far in the other direction. Long.