Ann: CBA Class Action Judgment, page-4

I think this comment reflects a misunderstanding of the business. they will win some and lose some, and you would hope it's a lot better than even money. here, OBL had almost a free option on a massive return after they sold 20% and took insurance for adverse costs. in the 7 years since the action started the shareholder class action landscape has shifted enormously. all of them used to settle with payouts. in 2023 two Federal Court decisions changed the way that courts analyse market based causation. this is a bad result but I don't agree that it was a bad risk to take on. litigation funding is about calculated risks, none of which can be accurately quantified. given the outsized return available this risk was worth it, and losing the case doesn't refute that fact. for me the two big things are those mentioned at the end of the announcement - costs coverage for the platform and bringing forward returns (before the cash runs out)