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03/07/20
08:57
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Originally posted by Ebbandflow15:
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Watching this trial has been one of the most mind-blowing experiences in my career. I think we have seen a few key themes emerge: 1) I am hearing again and again from the clients "we backed away due to the press coverage (AFR????!) 2) Enormous majority of witnesses are confirming GSW's estimates!! (especially the big names) 3) ASIC is putting these witnesses on the stand that are supporting GSW (WHAT?!) 4) Was ASIC pressured to pursue this simply because of public pressure??(again, AFR??!!) 5) Witnesses appear to be contradicting the "evidence" provided by the press (AFR?)...makes you really wonder what the agenda here is/was. $300m claim??? CA not looking very good here...have to wonder if the funding firm will pressure to settle asap....BUT, after seeing what has unfolded here, I'm not sure GSW should settle. Add to that, 75-90% support the Company and management. They seem to have some very deep pockets to fight this...
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on point 2, NA Williams and CBA both admitted that the estimates were way out of whack.
Originally posted by Fanthom:
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Agree! FIL, Thorney n the like..putting their money into GSW was imo a big attraction to the early investors... More then even the GSW announcements! Most would hv thought that these boys would hv done their due diligence.... So it must be a good bet! .. (not saying that its not! ) Aimo....
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but they admitted that the way they calculated the enterprise value of the company was totally inadequate. I.e they didn’t do due diligence. They blatantly admitted to this.