Ann: Voluntary Suspension from Official Quotation, page-34

First off, I do not intend to sound dismissive here.

The Musk/Telsa/Solarcity example is USA... different law AND it was relating to the sale of an insolvent company of which Musk was a controlling director to Tesla - AFAIK, all of the recent SDA purchases have been made from unrelated entities. While SDA's financials are reported in USD, the are still domiciled here in Australia - so you would assume that the law of Australia would apply.

If directors have done something which financially or materially benefited themselves (excluding exorbitant or unjustified wages) at the expense of the SDA shareholder - you may be able to imply that it was a criminal action, but unfortunately - poor business management and decisions don't typically classify as criminal in the eyes of the law.

You are right that directors are indemnified, it is very standard practice in Australia - a good recent example of a class action that ended up being mostlly covered by the indemnity insurance was Vocus (they still had to pay $3.5million of a $35million settlement)

Their class action was over disclosure of information to market:

"the action centred on two allegations related to its financial guidance during 2016-2017: That "Vocus engaged in misleading and deceptive conduct because it had no reasonable grounds for the original FY17 guidance issued in November 2016"; and that the telco "breached its obligations of continuous disclosure by failing to disclose that it would not achieve the FY17 guidance".

Fact still stands that SDA is currently suffering due to poor business decisions, not shady director/executive actions or lack of information to market. SDA loaded up on businesses at the peak of the oil boom... using debt, this resulting in them booking a substantial amount of gooodwill onto the balance sheet as they had to pay a hefty premium to get their hands on the businesses which they at the time thought would allow them to continue on their (at the time) great growth trajectory.

I was reading PMC's quarterly report last night, and they highlighted a company similar to SDA, german company Schlumberger: revenues have slumped post oil collapse (2014) by 30% and operating profit has reduced by 60%... PMC have continued to hold this company with the view that they are expecting oil exploration to start to pickup again as oil reserves globally are starting to run down - existing wells produce less oil as they age.

IMHO - I view this news as a positive for SDA - as historically oil has been their core industry to service... the real question is becoming... will SDA last long enough to make a recovery on the back of a rising oil exploration industry.
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As always peeps - DYOR