Any idea how they will calculate each investors loss?

First 5 Last

Share
Profile

Follow
xanda25

2,062 Posts.

29/12/17

15:33

Post #: 29935925
Share

Originally posted by investor450 ↑

Hi pear,

Yes I am a current shareholder but bizarrely also a member of the class action. I lost money after buying in during the debacle as explained below on the Maurice Blackman website. I sold out after that time (at a loss) but more recently have bought back in after recent softness in the SP. I bought again even though I guessed that they would have to pay out an amount of money like this. I think the company and market were expecting it.

I am actually not happy since:
1. Any reimbursement comes from long-suffering shareholders and that includes me.
2. I will only be reimbursed for a fraction of my losses (but hope to make it up again this time around!).

I agree it is appalling that ASIC/ASX has not been more aggressive concerning continuous disclosure in fining directors. It should not be up to the class action industry to seek redress, it only hurts the company not directors and is very inefficient and costly.

Maurice Blackman website
The revelation on 9 December 2013 of the poor results understandably surprised investors. Only four months earlier, QBE’s half year report in August 2013 fed market expectations of a profit in excess of $1 billion for FY13 and a turn-around of its problematic North American operations.
The market reacted swiftly and savagely on news on 9 December 2013 of the expected loss. QBE’s share price plummeted by more than 20% on 9 December, closing down $3.45 on the prior close, the biggest single day fall for QBE shares in 12 years. The share price continued to fall the following day, shedding another $1.18. In total, QBE shares fell 30% over two days.

Expand

Any idea how they will calculate each investors loss?

QBE Price at posting: $10.72 Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 43 more messages in this thread...

First 5 Last

Add QBE (ASX) to my watchlist

(20min delay)
Last $17.35		Change 0.160(0.93%)		Mkt cap ! $26.06B

Open	High	Low	Value	Volume
$17.38	$17.40	$16.99	$53.23M	3.082M

Buyers (Bids)

No.	Vol.	Price($)
2	4686	$17.34

Sellers (Offers)

Price($)	Vol.	No.
$17.35	13513	4

View Market Depth

No.	Vol.	Price($)
1	8746	17.270
3	10077	17.260
1	8762	17.250
3	24084	17.240
1	3370	17.230

Price($)	Vol.	No.
17.350	13513	4
17.360	8762	2
17.370	23584	2
17.380	5475	1
17.390	500	1

Last trade - 16.10pm 07/05/2024 (20 minute delay)


Last $17.28		Change 0.160 ( 0.60 %)
Open	High	Low	Volume
$17.32	$17.37	$16.99	480854
Last updated 15.59pm 07/05/2024 ?

QBE (ASX) Chart

Any idea how they will calculate each investors loss?

Featured News

Westpac tracks lower in profits in first half of 2024, with a 16% yoy drop amid slowing economy

Tamboran is listing on the NYSE, and Wall Street is paying attention

Maiden drilling at West Arunta hints at major IOCG system for Rincon

Sold out signs go up for RIU Resources Roundup in Sydney

Mantle Minerals to kick off drilling at Mt Berghaus in WA

Buyers (Bids)

Sellers (Offers)

Featured News

Any idea how they will calculate each investors loss?

Featured News

Top Stories

Westpac tracks lower in profits in first half of 2024, with a 16% yoy drop amid slowing economy

Tamboran is listing on the NYSE, and Wall Street is paying attention

Maiden drilling at West Arunta hints at major IOCG system for Rincon

Sold out signs go up for RIU Resources Roundup in Sydney

Mantle Minerals to kick off drilling at Mt Berghaus in WA

Buyers (Bids)

Sellers (Offers)

Featured News