Case Spotlight: Corporate Travel Management

CompanyCorporate Travel Management
JurisdictionAustralia
ExchangeASX
IndustryBusiness Travel
ClaimsMisleading and deceptive conduct
Relevant PeriodJuly 1, 2017 - October 27, 2018
Participation DeadlineTBD

CASE BACKGROUND

Organizers are investigating a potential shareholder action against hedge fund VGI Partners for their alleged role in a conspiracy to damage Corporate Travel Management, a company specializing in travel management solutions.

Corporate Travel Management’s stock price took a 27% price dive in late October 2018 in conjunction with a report released by VGI Partners detailing red flag allegations against Corporate Travel Management (CTM). Prior to issuing the report, VGI had taken a short position worth about $55 million in CTM, meaning it could profit when CTM’s share price fell.

Maurice Blackburn is currently soliciting shareholder interest. FRT will continue to monitor this matter and alert you to the progress.

DETERMINING ELIGIBILITY & COSTS

The size of your claim depends on how the court ultimately assesses losses. In Australia, the measure of losses is not settled and courts and organizers may apply one of several methodologies to determine them.

As an initial assessment, at your request, FRT can give you an estimate of the potential size of your claim based on information provided by the organizers in conjunction with our proprietary algorithms. Additionally, with your written permission, FRT can also anonymously submit your trade data for a further loss analysis under local law.

Additionally, the proposed action will be funded on a “no win, no fee” basis in accordance with the terms of a funding agreement provided by the funder. All of the expenses, including the lawyers’ fees and all other costs of the class action including adverse party costs will be paid by the funder. If successful, the funder will be paid its contractual percentage success fees plus reimbursement for legal fees and case costs from the settlement or judgement.

NEXT STEPS

If you wish to register now, you must submit the law firm retainer and/or litigation funding agreement. FRT will provide these documents upon request or, if authorized, may complete them on your behalf. If you have compensable damages and would like to discuss your rights with the organizers, FRT can arrange for that discussion.

Learn More

FRT has issued the following alerts to FRT Global Group Litigation clients:

  • Preliminary Alert: November 26, 2018
  • Full Alert: March 20, 2019

For more information on this case or FRT Global Group Litigation service, please contact us at learnmore@frtservices.com.

About FRT

U.S. CLAIMS  I  GLOBAL GROUP LITIGATION  I  ANTITRUST  I  LITIGATION MONITORING  I  BUYOUTS

Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

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