Being subject to class action is bad - I'd surmise that they would have only settled where their advice said that they didn't have a very good chance of winning the case, this is why they provisioned it. Hence the bad news has been known for quite some time and is priced in.
Current management had nothing to do with the cause of the class action which was during Aug-Dec 2011. The company had a different CEO, management team and board composition and chairman at the time (Gordon is still there and as founder he isn't going anywhere, but he has been diluted)
Settling this puts it behind them, good news
Removal of uncertainty, good
Not being in court subjected to further bad publicity, good
No further waste of management's time and/or further legal costs, good
No risk of court loss and subsequent awarding of costs beyond what has been provisioned is also good
Ann: Settlement of Representative Proceedings-BBG.AX, page-7
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