GetSwift Welcomes Finality of Only One Class Action
NEW YORK–(BUSINESS WIRE)–lt;a href="https://twitter.com/search?q=%24GSW&src=ctag" target="_blank"gt;$GSWlt;/agt; lt;a href="https://twitter.com/hashtag/delivery?src=hash" target="_blank"gt;#deliverylt;/agt;–GetSwift Limited (ASX: GSW) (‘GetSwift’ or the ‘Company’), announced on 17 April 2019, the High Court of Australia dismissed an application filed by Squire Patton Boggs (AU) for special leave to appeal the decision of the Full Court of the Federal Court of Australia. On 20 November 2018, the Full Court upheld the judgment of the Court at first instance, holding that only one class action should proceed. That proceeding was the Webb Proceeding. As a result of the High Court’s decision, the judgment of the Full Court is now final and only the Webb class action proceeds. In dismissing the application for leave, the High Court ordered the costs against the party bringing the application, such that the Company will recover some of the costs associated with the application for leave.
Separately, the Federal Court has determined that the Webb proceeding and the ASIC proceeding will be heard consecutively, and the ASIC proceeding will be heard first, commencing in June 2020. The trial in the Webb proceeding is now scheduled to commence after the ASIC proceeding has concluded and presently will not start before 17 August 2020. The Company maintains its claim in the Webb proceedings that at least Squire Patton Boggs (AU) are a concurrent wrongdoer, by virtue of which the Company says any liability against the Company ought to be reduced.
As previously advised, the Company strongly disputes the allegations made against it, including any alleged loss, and is vigorously defending the proceedings. The Company will continue to robustly pursue all legal options to protect shareholder interests.
The Company will continue to keep shareholders informed of developments.
About GetSwift Limited
Technology to Optimise Global Delivery Logistics
GetSwift is a worldwide leader in delivery management automation. From enterprise to hyper-local, businesses across dozens of industries around the globe depend on our SaaS platform to bring visibility, accountability, efficiency and savings to their supply chain and “Last Mile” operations. GetSwift is headquartered in New York City and is listed on the Australian Securities Exchange (ASX:GSW). For further background, please visit GetSwift.co.
Contacts
Media enquiries: John Jannarone: [email protected]
Investor enquiries: [email protected]
Company Secretary: Sophie Karzis: [email protected] +61 3 8622 3351
This article published with permission from Business Wire
