Domino’s shares plummet after company drops injunction against publication of critical GPS tracker film
The film was made by a former communications student and the focus of an injunction filed last week by Domino’s which was today lifted by the NSW Supreme Court.
The injunction, which prohibited publication of the film, was granted a week ago. The film made by Phoebe Stuart-Carberry alleged Domino’s had breached technology patents supposedly owned by Precision Tracking, formerly a contractor to the company.
Domino’s shares dropped 6.59% to $54.81 today following the removal of the injunction.
Stuart-Carberry published the untitled short film on YouTube this afternoon, immediately after Domino’s was awarded costs (yet to be determined).
Don Meij: “Domino’s will not be threatened…reserves the right to take further action”
Stuart-Carberry narrowly avoided jail for contempt of court earlier this week when she refused a judge’s orders to hand over a copy of the film to Domino’s so it could review the contents.
Domino’s alleged that Stuart-Carberry appeared to be using the threat of publication to force the company into settling with Precision Tracking over claimed patent breaches.
Stuart-Carberry, who represented herself, eventually relented after the hearing and handed a copy of the film to the court, which has since been viewed by Domino’s.
Phoebe Stuart-Carberry: “I’ve been finally ruined for telling the truth.”
The company withdrew the injunction banning publication of the film this morning, but said it “strongly refutes the repeated false and misleading claims made in relation to the company’s GPS Driver Tracker technology by Precision Tracking over the past year”.
In a statement to the ASX this afternoon, Domino’s said Precision Tracking was “conducting an active public and social medias campaign to publicise its dispute”.
“The company notes the fall in the share price today and believes this may be attributable to inaccurate speculation caused by unsubstantiated allegations in relation to the company’s Driver Tracker Technology,” the statement said.
Speaking with Mumbrella this afternoon, Domino’s group CEO and managing director, Don Meij, said the company was “very confident” the claims by Precision would be rejected and warned the company “would not be threatened”.
“We think this has been a publicity stunt – as a way for them to create business as a business partner that didn’t win the contract, but unfortunately it’s gone way beyond and become malicious against us,” Meij said.
“There is only so long you can stay quiet when you start getting blackmailed and attacked on an ongoing basis.
“We have a lot invested in the quality of all the innovations we do and there comes a point where you cannot continue to accept it.”
Meij also said that the company would not accept the impact on its share price and has reserved the right for Domino’s to take further action against the creators and supporters of the 15-minute film.
This afternoon Stuart-Carberry was ordered to pay costs.
“I’ve been ordered to pay all costs of Domino’s’ five lawyers working for three weeks,” Stuart-Carberry told Mumbrella in an email.
“I feel sick and disgusted. I’ve been finally ruined for telling the truth.”
Simon Canning
