Eclipx closes 16.4pc higher


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Shares in GetSwift are up 2.6 per cent today to 19.5 cents after the two largest shareholders, Clutterbuck Capital Management and the founder of KPT Capital told the market they are pulling out of class action against the company.


“We have already notified the Court of our decision to opt-out of the current class action proceedings,” the funds revealed this morning.


“We thought it pertinent to also voice our full and strong support of the entire senior management team of GetSwift, in particular, Bane Hunter and Joel Macdonald. We believe it is essential for the future success of the Company that Messrs. Hunter and Macdonald remain at the helm for many reasons, including their strong customer relationships, deep industry expertise, and the ability to attract and retain key talent.”


“Although the Company has recently endured a very tumultuous and public existence, we believe general commentary fails to address the highly supportive position of long-term shareholders. Instead, we believe it portrays the position of those parties driving the well-publicized class action proceedings and of particular media outlets, who both may stand to benefit by negatively distorting facts and/or sentiment in relation to the Company.”


Get Swift is facing three class actions stemming from a February 2018 market update revealing how many contracts were generating revenue. Get Swift is also facing legal action from the Australian Securities and Investments Commission launched in February, 2019, alleging misleading representations.


Article source: http://smh.com.au/world/trump-rallies-highlight-his-failings-20170824-gy2zxh.html

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