Sorry Mark, IMO even if you win it will not vindicate your actions, just because your an oldie, I originally bought OX at 12cents, (does that make me an oldie) and bought shares for myself and smsf in the window open to join the proceedings, I and many other did not join the action.
You are probably correct that certain current liabilities were erroraniously listed as non-current, but even if these were listed correctly as current, would that have changed you investment decissions, remember, this was before the GFC crash, OZ was worth $10billion, and we are only talking about an amount of $320million, so in the scheme of things at that time a small amount.
If the GFC didnt happen, this matter would never even have been noticed, it is just that some people who lost money through "the bad decissions made by OZ mgmt and board during the GFC" are looking for someone to blame and someone to bail them out of their bad investment decissions. You are taking action against other OZ shareholders, who suffered the same plight as you, except we chose not to run to the ambulance chasers.
If you can with you hand on your heart tell me here, that you would have read the whole financials, noticed that OZ had some current liabilities and then not have invested in OZ, then I will change my opinion of your actions.
cheers grant
the above is opinion only and written without prejudice
Add to My Watchlist
What is My Watchlist?