Class Action Fantasy

Here’s my fantasy.

That a class action against Macquarie Bank (MQG) results in a court ruling as follows :

The court finds that the whole float process was so flawed, so opportunistic, so misleading and so unjust that it orders MQG to reverse the whole process (ie a ‘reverse float’ )

1. Shares are suspended from trading.

2. All shareholders on the register at that point have their shares purchased by MQG at whatever price they paid for them (IPO price or ‘on market’ price) ....yeah yeah for those precious few that bought in the past week and might be sitting on a small profit - they can have market price at point of suspension.

3. NXL is delisted and is absorbed back under MQG

4. Everyone (at least) gets their money back .....at whatever price they were duped at.

5. The Sheehy claim is back where it should be - with MQG as THEIR problem.

6. Who gives a F what transpires after that. We can all just pretend it never happened.

All up this might cost MQG $2 billion. MQG market cap is $52 billion - the bastards can afford it.