Yep, that is a good question. I agree that this number should be announced. We can calculate some rough estimates though. In February, Tyro said that 15% of their customers were affected. The customer number back then was around 32,000 according to their website. That gives us 4,800 merchants impacted.
In May, Tyro gave another announcement and said that 3,656 merchants have registered losses through the remediation program.
That leaves us with 1,354 merchants who didn’t join the program and could potentially join the class action (but that was in May). The real number must be much lower though. I would guess that some Merchants didn’t have any losses because they were only partially impacted and some Merchants didn’t trade at all maybe (covid in full swing).
In the end we just have to wait but we know that the number is definitely lower than 1,354 and the key question remains why would a court agree that the Tyro remediation program is not sufficient. At least 75% of impacted merchants seem to be happy with it.
TYR Price at posting:
$3.92 Sentiment: Hold Disclosure: Held
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