News: BID Bidenergy Seeks Trading Halt, page-19

1. read up about the derivative action case - you must be a shareholder to initiate this type of action.
2. "...In a message to Mr Baillieu's lawyer, Mr Dyer is believed to have made a list of demands, including that Mr Baillieu sell his remaining shares in BidEnergy and agree to not purchase more.He is also believed to have requested that Mr Baillieu consider dropping a legal case against BidEnergy and its directors, or potentially face criminal prosecution. ..." - from The Age 25.08.2019

Now further to this....it seems he may have sold some shares (not all - see above) as he is attempting to recover losses by the sale of his shares. Perhaps he means less profit as I highly doubt he bought at the top! So he must have kept some to initiate the action - but how many I am not sure. Regardless of the validity of any claims which is highly improbable anyway, it would be hard for him to claim he lost even more profits when in fact he already made huge profits. The only way I see it is it just spite and wouldn't be surprised to see it thrown out and costs awarded against him.


@BSCLF good point