Thousands of out-of-pocket Slater and Gordon shareholders’ will split a $36.5 million settlement – just a fraction of the total value shed by the once high-flying law firm.
“The settlement was the best outcome from a terrible situation for shareholders, given the diabolical alternative which meant likely insolvency for Slater and Gordon,” class action lawyers Maurice Blackburn said.
The Maurice Blackburn claim – one of three potential class actions against Slater and Gordon – had originally sought $250 million, arguing the ASX-listed firm misrepresented to the market, and failed to disclose in a timely way, a range of information about its financial performance and prospects in 2015 and 2016.
‘Enforcement 40’ for 2020
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