The Court approved a $37,356,125 settlement in a shareholder class action against EML Payments Ltd, holding that unregistered group members seeking to participate in a settlement after soft class closure must demonstrate 'unfair prejudice' from exclusion, supported by sworn evidence — mere assertion or failure to attend to one's affairs is insufficient. The Court established a rule-based approach admitting group members who registered within seven business days of the class deadline, and individually assessed later applicants, refusing admission to an institutional investor (GM1) whose late-registered claims comprised 98.7% of late claim value because it failed to apply to the Court despite clear notice and had the resources to manage its affairs. The Court declined to vary the 24.5% group costs order, finding the settlement outcome was within the range contemplated when the GCO was made, and applied a 50% discount to claims based on trades in a specific sub-period based on counsel's confidential risk assessment.
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