The Getswift Ltd (ASX: GSW) class action has been broadened to include more of the company’s past announcements, Fairfax Media reported this morning.
Legal eagles Squire Patton Boggs has broadened their claim to include Getswift’s announcements regarding NA Williams, YUM Brands, and Amazon, in preparation for the first court date coming later this month.
Getswift stated to the ASX in October last year that:
“The company will only report executed commercial agreements. Unlike some other groups, it will not report on memorandum of understandings or letters of intent that are by their very nature not commercially binding and not a valid assurance of future commercial outcomes.”
In February, Getswift announced to the ASX that “almost 50 per cent“ of its enterprise clients had progressed through to early stages of revenue generation.
In reference to those two statements, Squire Patton Boggs lawyer Amanda Banton was quoted in the media this morning as saying:
“It’s in the context of GetSwift making announcements that they won’t make fake announcements, and only make announcements where there are real income-generating prospects…… If 50 per cent of the enterprise contracts are not revenue generating, you have to wonder why they were announced at all.”
Run by a former AFL player, earlier this year Getswift shares entered a trading halt amid media scrutiny and questions from the ASX. According to Yahoo! Finance, Getswift shares started 2018 at $3.70 per share and currently trade at $0.48.
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