The judgment by Justice Croft which is attached to his decision to approve the settlement application runs to 2,014 pages and makes fascinating reading if you like that sort of thing. Basically, the plaintiff's (the class action participants) didn't win a single point and quite clearly they didn't have a leg to stand on with any of the arguments they pleaded. The case as pleaded by the plaintiff's solicitors was bound to fail and $20m of fee's contributed by the class action participants was a complete waste of money.
GTP Price at posting:
12.0¢ Sentiment: None Disclosure: Held
