Regarding your comment: "I would also have to say what a lot of us would be thinking it is doesn't succeed what are the ramifications and costs to those whom participate in your action".
The review and legal arrangement is being considered on a no win no fee basis, that's an important one so that costs aren't born by those that participate.
In the first steps, it would be envisaged that the legal firm take a fresh review, in particular surrounding the dates where significant and effective losses have occurred, and review further, on actions that may have resulted in the effective losses and also other factors including possibly a review of whether;
1. Did the company act in a manner contrary to law?
2. Did the company fail to continuously disclose material items?
3. Did the company disclose all material items known at the date to investors accurately prior, during and post all the capital raises?
4. Was there entire failure to accurately assess the first years grades, and if so, who's negligence contributed to any significant variations?
5. Were any advisors or auditors negligent or fail duties of care?
6. Did the company or its' Directors engage in misleading and deceptive conduct?
7. Did the Directors or any third party specialists engage in any professional misconduct or be negligent in its calculations of items?
8. Was any reasonable secondary checks and balances performed on third party assessments and calcuations and if so, how and by whom?
9. Did the company or its' Directors fail any required items as part of fudiciary duties?
10. Did the company or its' Directors fail warranties, or duties of care?
11 Did the company, its' Directors, any contractors including independent experts engage in conduct contrary to Law and regulation?
12. Consider that if effective losses >$250m, does that provide any action the ability to seek the opening of all books in the company? Something also that the lawyers may need to consider?
I would appreciate if you could contact me and provide any contact details for further discussion privately. Regards.
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