Thanks MJ.Just reading through some of the previously published...

Thanks MJ.

Just reading through some of the previously published news articles, came across an interesting read in terms of the possible current CA size:

"The successful class action from Phi Finney McDonald does not disclose an amount of compensation being sought, but in an announcement to the ASX, GetSwift says the other claims were for approximately $75 to $100 million and $120 to $140 million.GetSwift says this is a reduction of between 50 to 75 per cent on the previously reported claim size."The company strongly disputes the allegations made, including any alleged loss, and will vigorously defend the proceedings," the ASX statement says."

Below is from phifinneymcdonald website,

Allegations

The class action alleges that:

1. during the claim period, GetSwift contravened its continuous disclosure obligations by failing to disclose to the market the termination of material enterprise agreements/partnerships;
2. during the claim period, GetSwift engaged in misleading or deceptive conduct by omitting material information from announcements to the market about enterprise agreements/partnerships;
3. GetSwift’s conduct caused its share price to trade at a price substantially higher than the trading price that would have prevailed in a properly informed market; and
4. persons who acquired GetSwift’s shares during the claim period have suffered a loss by acquiring the shares at an inflated price.

I work for a SaaS company and we do not update the markets publicly on the lost clientele list and neither am I aware of any SaaS company that does . So, if the argument is why GSW did not report on lost clients, I believe all the SaaS companies of the world would get sued on those lines, huh.