Any settlement will be confidential. The sell off effected alot more people than those involved with OPES - all shareholders for example.
Forgetting about the recent crisis, crashes etc etc, The top 20 held more than 45% of shares prior to March 27. For ANZ to liquidate as they did, I wouldn't call the transition from Top 20 to trader - safe hands. And what about those who sold as a result of the ANZ sell off.
If ANZ's activity was ruled on the balance of probabilities to be unlawful by the Victorian Supreme Court, and set a precedent, the lineup with respect to claims would be endless. Good hearted Law firms, lol, would write to shareholders encouraging a class action.
Perhaps a caveat on these particular shares would have been a better course of action until it was ruled upon.
Phil Thomas "the palintiff", failing to get a run on Friday is excellent news IMO. An undisclosed settlement with costs is the only way for ANZ "the defendant".
ADY Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
