I too like you are well in the red on this investment.
Class actions are serious and a huge distraction to the legal and finance teams within a company such as MYX.
The action can only be successful if there has been material misinformation to the market including not advising the market when info came to the attention of the Board and senior management.
A class action will not succeed where there is incompetence.
In any case insurance will cover the cost. The biggest issue is distractions. Hopefully the sales and marketing teams are going full bore on Nextstellis and the development team is fixing up Nuvaring for final FDA approval.
Given that the whole US pharmaceutical industry is embroiled in some sort of litigation it really is just par for the course and its Mayne's turn to be the subject of attention.
This is my most frustrating investment and I sincerely hope Scott Richards falls on his nsword so that the company can have a clean out and get on with running the business without baggage.
MYX Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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