The class action wouldn't include shareholders if the law firm didn't think there was inadequate disclosure in the Tyro releases.
http://bannisterlaw.com.au/tyro-payments/Not disclosing exactly how many affected terminals there were, in definitive terms, was a failure of management in my eyes. I assume they will take the weekend like SEK did and pull a report together for Monday.
All in all though, it seems the issue is definitely bigger than their first release (7 Jan) and probably bigger than their latest release (13 Jan). Will mean large costs in fixing terminals - paid to third party Amtek. Churn of merchants will kill the positive merchant acquisition growth. Plus even if terms of service don't allow for compensation, they will have to provide significant fee reductions in the near future to try and retain effected customers.
The class action wouldn't include shareholders if the law firm...
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