I spoke to Bannister Law today, I wanted it more clear.
Today they sent me an email explaining how it works.
See below..
Further to our telephone conversation today:
The $2,200 fee in the Bannister Law Conditional Fee Agreement with 25% uplift will only be claimed against the other side in the event of a successful claim.
If the claim is unsuccessful, the litigation funder will pay the $2,200 without the uplift fee. You do not pay this fee.
What you will pay is the amount of around 25% of your settlement entitlement to the litigation funder if the claim is successful. This is the compensation payable to the funder for taking on the risk of the case and funding the upfront costs.
At the moment we have not fully finalised our litigation funding so I am unable to clearly advise what that amount will be, the above is only an indication.
She basically said, over the phone, if the class action is unsuccessful then shareholders pay nothing, absolute zero.
If we win the case, then shareholders will pay 25%.
Basically if you get back $2,000, then your uplift fee will be $500.
The $2,200 is has nothing to do with us shareholders..
If unsure give Diane a call from Bannister Law
Cheers
DSH Price at posting:
35.5¢ Sentiment: Hold Disclosure: Held
