I think you are overstating it. First of all i don't believe they will get up and secondly if they settle out of court it will be for something like $5million tops.
I don't know how you can state that they will have a few hundred left. Which implies they would lose 700million. What a crock of you know what.
If you are going to discuss the claim lets keep it real.
I also lost over a $100K from what transpired and purchased shares in both OXR and ZFX during the same period that they are talking about. I did not lodge my claim as it is something i don't particular believe in. I personally can't stand these types of claims. Everyone seems to be sueing everyone. Soon there'll be a claim against OZ for keping their money in US denomination and not converting back to AUS. Lets start some class action for that too....what a joke. Where does it end.
I think the issue at hand is did OZL know about the conversion of long -term debt into short term debt at the time of the merger or is it alot more complicated than that.......there are always various risks associated with purchasing shares in companies.
Yes some major 'incorrect' decisions were made by some ex directors of OZL (won't mention names) and it is those individuals that should be taken to task. Were these incorrect decisions ...failing to disclose what was known to them or will they plead that they were not aware or it was some accounting adjustment which caught them with their pants down....i guess that is a matter for courts. However it is still a grey area and this won't be so straight forward.
OZL Price at posting:
$12.20 Sentiment: Hold Disclosure: Held
