Former local market darling GetSwift 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 over a loss to the corporate regulator in the Federal Court.
On Monday, GetSwift, the group’s former chief executive, Bane Hunter, and president, Joel Macdonald, filed notices to discontinue their appeal against their court loss to the Australian Securities and Investments Commission. In the case, a judge had lashed the company’s “public relations-driven approach to disclosure” designed to pump up its share price.
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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
