SP1 0.00% $1.07 southern cross payments ltd

2 separate issues_Fed Court hearing re damages & ASX lifting suspension, page-31

  1. 289 Posts.
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    For what it is worth, I do know that there are a few separate discussions being had with solicitors regarding ISX shareholder CA against ASX and have been told that there must be closure of the current matter before the courts prior to one formally progressing. The probabilities of a win by the ASX are decreasing with time (the hole is only getting deeper) and so, it is increasingly likely that at least one will proceed. It is early days however, it does feel like we will need to streamline our efforts here in due course and to me it makes logical sense that HWL leads this if possible given their involvement. Hypothetically speaking of course, I believe that the CA claim can be multiples of ISX damages and or settlement sum.

    No matter which way you look at it, this really is an unprecedented situation and unfortunately the ASX have not yet demonstrated to the Australian public and market in general that they are taking this matter seriously. A $264m damages claim against and allegations of misleading and deceptive conduct on behalf of the Australian MO being considered not material by ASX, honestly regardless of what side of the fence you are on, that really is a joke.

    All IMO.


 
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