February 2023
GetSwift’s comeuppance is no deterrent at all
Bane Hunter deftly ran rings around Australia’s courts and regulators, repeatedly given the benefits of doubt until not a skerrick of uncertainty remained.
‘Unacceptable face of start-up capitalism’: GetSwift fined $15m
In a damning 70-page penalty decision, Justice Michael Lee said the founders of GetSwift showed no remorse.
‘Scandalous episode, unhappy day’ for GetSwift investors
Federal Court judge Bernard Murphy has approved a class action settlement, which means victims of the collapse of GetSwift will be lucky to get back 1¢ in the dollar.
December 2022
GetSwift victims get 1c in the dollar
Class action subscribers on Tuesday were told a settlement sum of $1 million was “the best that can be achieved”.
August 2022
The obscure US financier backing the ASX’s hot stocks
LDA Capital is the go-to financier for a handful of speculative ASX plays, and its model is now being embraced by local funds.
May 2022
GetSwift drops appeal over loss to ASIC
The former market darling has told Canadian investors it is undertaking a strategic review, including a potential sale or offloading of assets, as the company and directors drop an appeal against a court loss to the corporate regulator.
February 2022
GetSwift appeals court loss to ASIC, as CEO resigns
It comes as the technology service company told investors it is ‘in the process to secure enough capital funding to continue operations in the short term’.
November 2021
‘PR-driven’ disclosure judgment costs Getswift a third of market cap
Since Justice Michael Lee’s November 10 judgment, GetSwift’s share price on Canada’s NEO exchange has shed 29.6 per cent.
Hubris and hype: the downfall of GetSwift
This week, Federal Court judge ruled the former market darling broke continuous disclosure rules 22 times, and misleading and deceptive conduct laws on 40 occasions. It was a sweeping victory for the Australian Securities and Investments Commission.
GetSwift boasted of ministerial assistance
“We had to call in favours with government ministers to call the ASX and put pressure on them,” GetSwift director Brett Eagle told Amazon.
GetSwifty: Why ASX hype machines are alive and well
GetSwift was scolded for a public relations-driven approach to disclosure that is still flourishing among the hungriest of ASX names.
GetSwift gets its comeuppance
Directors unsure about their fiduciary duties ought to read the judgment slamming Bane Hunter and Joel Macdonald for multiple continuous disclosure breaches.
GetSwift found guilty of multiple ‘PR-driven’ disclosure breaches
GetSwift has been found guilty of contravening continuous disclosure rules 22 times, and contraventions of misleading and deceptive conduct laws on 40 occasions.
July 2021
GetSwift settles shareholder class action
This former market darling has settled a long running class action with shareholders.
June 2020
'Let me put it to words in English you can understand'
The former chief information officer of GetSwift says she was criticised by board members when she asked questions about ASX announcements the firm wanted to make.
Amazon urged GetSwift to keep deal under wraps
'Please do not release the announcement from GetSwift,' Amazon's lawyer emailed in bold. GetSwift announced the deal the next day, sending its share price rocketing 119 per cent in three days.
CBA warned GetSwift it had overblown $9b deal
The corporate regulator has accused former market darling GetSwift of misleading investors by claiming it had landed an agreement with a transaction value worth $9 billion with the bank.
GetSwift misled investors over profit potential: ASIC
Former market darling GetSwift raised $75 million by telling investors it had secured lucrative contracts with Amazon and Commonwealth Bank, when it had only signed them up for 90-day trials, a court has heard.
December 2019
Common fund order removed from GetSwift class action
Lawyers for shareholders in the class action said the court case will proceed uninterrupted despite a court ruling its funding source is invalid.
September 2019
First strike nothing to do with exec pay, says GetSwift
Executive directors Bane Hunter and Joel MacDonald received hefty salary and bonus increases in FY19.