Here's a high level estimate of the potential loss.
There was ~$1,095m ($1.1bn) of market cap traded between 25 Aug and 1 Dec. During this period, total shares turned over were 537m or ~48% of the float. The VWAP for the ~3 month period was $2.04.
The share price dropped to $1.325 on 2 Dec, the day that the lawsuit alleges the misleading information was finally disclosed (i.e. after this date the market was no longer mis-informed). The difference between the VWAP and $1.325 = $0.71. Multiply this by the shares traded during 25 Aug to 1 Dec and you get $383m. That's a high level estimate of the total loss incurred.
Obviously this would then change as the VWAP is rough and not everybody would have sold and incurred a loss. You actually have to sell and crystallise the capital loss to have a claim.
SPO Price at posting:
93.5¢ Sentiment: Hold Disclosure: Held
