class action, page-9

Some valid points raised on the "martabe" thread makattak!

Worthwhile for prospective class actioners to understand that any return to investors in the IMF Aristocrat action was strictly confidential so check out IMF's gouge and profit -

Litigation funder IMF (Australia) Limited (IMF) announced it had reached a conditional settlement for disgruntled shareholders of slot machine maker Aristocrat Leisure Limited (ALL). IMF said the terms were confidential and confirmed there was a possibility that the conditions, one of which has settlement approval by the Federal Court, may not be met. If all of the conditions are satisfied, IMF estimates it will receive revenue of $37 million and generate a profit from this investment of $22 million. IMF said it would update its estimate if and when all conditions are satisfied.

However, in a statement to the market, IMF said it currently anticipates that the conditions attaching to settlement will not be met until August 2008.

“Accordingly, if all of the conditions are satisfied, any income or profit generated from this action will be included in the 2009 financial year,” advised the company.

Earlier this month, Aristocrat confirmed it was in talks over a settlement. The pokie machine maker said the deal wouldn't affect its financial strength or capital management policy.