Ann: Statement of Claim Lodged , page-37

Enoch, the point is, that a breach of the corporations act has occurred regarding non disclosure rules.

The court will decide in the end, and I am betting it will be in favour of the claimants.

During the court action, evidence should be uncovered that should incrimnate the previous Directors resulting in possible further charges and further action.

The all mighty legal axe needs to be wielded on the heads of those that are found guilty of breaching the corporations law.

An example needs to be set that sends a message out to the corporate world, that greed leads to fraud and theft, and this sort of dishonest behaviour will no longer be tollerated by the law or Australian investors any longer.

If we lived by the excuse that the market can steal your wealth due to non disclosure of misdeeds by trusted executives of large public corporations, then where would we all end up?

Should it be acceptable to investors like us, or the regulators to allow executives to do everything they can to window dress their company's earnings forecasts to deliberately deceive unweary investors so that they or their friends obtain a financial advantage?

Should we just take the hit and move on to the next stock regradless if we have been lied to via misdeeds by Company Directors of which are involved in complex methods of misusing or misdirecting funds, overstating revenues, understating expenses, overstating the value of corporate assets or underreporting the existence of liabilities?

What about this below, does this sound familiar:

A reduced share price makes a company an easier takeover target. When the company gets bought out (or taken private) - at a dramatically lower price - the takeover artist gains a windfall from the former top executive's actions to surreptitiously reduce share price. "WOW that sounds like Min Metals and OH / AM.

This can represent tens of billions of dollars questionably) transferred from previous shareholders to the takeover artist. (MM AM and OH)

The former top executive (OH) is then rewarded with a golden handshake for presiding over the firesale that can sometimes be in the hundreds of millions of dollars.

This is nevertheless an excellent bargain for the takeover artist, who will tend to benefit from developing a reputation of being very generous to parting top executives).