This could take years to resolve (from the date of first dispute).
If you carefully read the announcements, and line up all the dates around what happened and compare this to when it was disclosed to shareholders, it seems clear to me that this ends in a shareholder class action against directors for non-disclosure. For now many seem to be continuing to cheer management’s every move (perhaps because they have no other option), but I believe the tide will turn. This has always been a non-disclosure issue.
AVZ’s D&O insurer will be freaking out every time one of these updates gets released.
AVZ Price at posting:
78.0¢ Sentiment: None Disclosure: Not Held