A 2 million claim is not worth pursuing. From the very first...

A 2 million claim is not worth pursuing. From the very first when some posters here were baying for blood and screaming CA, I tried to point out a few facts. I have been involved in two class actions, I know a little bit. I couldn't see it going anywhere, because from what I could understand, there was no risk to shareholder value due to intent to commit fraud on the part of GSW's senior executives. Some of GSW's announcements were unclear or could be misinterpreted. That's all. For instance there was a buying frenzy after the announcement that they had signed a master services agreement with Amazon, people assuming they were going to do all the logistics which was an assumption on the part of shareholders, not a claim by GSW. To this day I'm unsure what a Master Services Agreement is so if anyone knows, really knows, please explain!

Back to the CA. I recently got an update from the latest one I'm participating in, and for purposes of comparison about what this claim involves, here is a short excerpt with the names and details removed:

We have been able to provide considerably more detail regarding *****’s knowledge, or knowledge of a risk that some of its senior executives were, or may have been engaged in corrupt conduct in order to secure construction work in **** by reference to numerous documents from the period ****.
In early May we sought limited further discovery from ***** in relation to its ethics and compliance practices, and in June ***** provided more than 100 new documents. We are pressing for a small number of further documents which ***** has so far refused to provide. We have also asked ***** to explain the reasons why it has produced a number of documents with redacted text.

What we have here is deliberate corrupt conduct on the part of senior executives, shaky ethics and lack of compliance practices (there is an argument for the latter only in GSW's case). In my CA, there is refusal to provide documents and redacted text on documents they did provide. According to GSW's press releases about the CA they have provided everything requested.

It's apples and oranges from what I can see, a case of a company that needed a slap on the hand for ambiguously worded releases and failing to explain how their revenue stream worked (no locked in contracts). Instead there were cries of fury and demands that they be guillotined. Both here and in the media generally.