Q: Hello 5i team,
How material is this data privacy class action lawsuit against SHOP in California?
Will this continue to be appealed or will this go forward?
This seems major since it's in California.
Andrew
How material is this data privacy class action lawsuit against SHOP in California?
Will this continue to be appealed or will this go forward?
This seems major since it's in California.
Andrew
5i Research Answer:
While getting a reversal of a prior dismissal is never a good thing, this case has been ongoing now for four years, and really relates to jurisdiction, with SHOP calling itself a global operator and California saying its specific laws apply. We would not consider it material to the company, as it would relate to one state, likely will drag on for many more years anyway, and is not likely to result in material damages to the company even if it were to lose down the road. Legal outcomes of course are never guaranteed, but investors at least have decided it should be a non-event.