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.
The corporate regulator kicked off its five-week trial against GetSwift on Monday, alleging the logistics tech company misled investors in 2017 in a series of announcements that sent its share price up 1900 per cent.
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Liz Main is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Liz on Twitter. Email Liz at liz.main@afr.com.au
