Seriously, you could punch so many holes in that. Why would shareholders litigate against someone who is outside of the jurisdiction and has assets held beyond him personally. Do you know of the corporate veil? Would it be litigation against every known person or corporate entity hoping for some sort of judgment that could be enforced in international waters. I doubt that there are the sufficient assets here to satisfy any claim.
ISX and those running the company in Australia mounted a claim for half a billion against ASX and capitulated dreadfully. Now ASIC are prosecuting ISX and the 2nd Defendant as the former CEO and we await the outcome.
SP1 Price at posting:
$1.07 Sentiment: None Disclosure: Held
