jimk3758 : "Don't shoot the messenger but class action seems likely now".................
............can you explain who the action would be against, jimk? Assuming an investor felt he (or she) had been misled into investing but remained a shareholder, are you suggesting he (or she) should bring an action against himself (or herself) as a part owner of the company? Or perhaps the action would be against a lot of shareholders who had nothing to do with making the allegedly misleading statements and as a result punishing them further?
Or would the action be against the directors under their D&O policies as they were the ones who made the statements?
I assume you must think you know the answer as you are warning people against an unquantifiable liability hitting the company before the turn of the century (which is about how long it would take to conclude the action). Directors' D&O policies cover them (inter alia) against actions by disgruntled shareholders as long as fraud is not involved.
Are you a lawyer, jimk?
SGH Price at posting:
37.0¢ Sentiment: Hold Disclosure: Held
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