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GPT has agreed to settle the class action brought by Slater & Gordon allegedly for $75 million, subject to approval by the courts. It will be interesting to see how much of the pool ends up with the claimants (former shareholders) and how much individual shareholders get per share for those that registered with Slater & Gordon.GPT indicated in their release that they had/have insurance in place against the claim and the outcome will not impact on their bottom line. The settlement does not construe any admission of liability or wrong doing on the part of GPT or the directors of GPT.
GPT has agreed to settle the class action brought by Slater & Gordon allegedly for $75 million, subject to approval by the courts. It will be interesting to see how much of the pool ends up with the claimants (former shareholders) and how much individual shareholders get per share for those that registered with Slater & Gordon.
GPT indicated in their release that they had/have insurance in place against the claim and the outcome will not impact on their bottom line. The settlement does not construe any admission of liability or wrong doing on the part of GPT or the directors of GPT.
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