@monsieur OK sir, I'll bite. You have got to be kidding me. First, nice 1st post. I wonder what law firm you work for. I've spoken to many class action lawyers in my career and its clear they have one interest: THEMSELVES.
Second, statements like "you'll get nothing," "the only winners are lawyers and funders" really DO have basis in fact. Why? Only a lawyer would think 60% of any recovery is reasonable (its also highly optimistic). Even the best money managers in the world struggle to justify taking 20% of profits but here you are arguing that double that rate is something a shareholder should be comfortable with. You also claim that shareholders take zero risk! Thats laughable. the risk is imbedded in the decision to move forward with the class action. By opting in, shareholders are risking their entire holding on the 'hope' that the class action is successful. Because if it's not, you have just shot your investment in the foot yet again. This is of course opposed to letting GetSwift's newest additions do what they do best, deliver. We all made our bed here and are forced to sleep in it.
I am certainly not defending this company but where we are today is vastly different from where we were only 6-months ago. With the talent they've brought on and the traction they are getting outside of Australia (via our channel checks over the last several months), this scenario heavily favors me opting out and seeing if this Company can deliver.
The instances where a class action return to shareholders is substantially less than 60% is CERTAINLY not the exception to the rule, it is more so a common outcome...especially when you consider the number of class actions that fail altogether.
GSW is a very unique case. The majority of holders are not retail, they are institutions. This is very important when you run an expected returns analysis.
GSW Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
