litigation to continue

Last month the movie studios represented in Australia by their agents decided to continue with the litigation to pursue Iinet through the courts

Earlier Iinet had been successful against the movie studios in a lower court

However now it is going to continue through the full court of Australia

Based on this development and the perception by the investor public, I elected to sell my holdings and sit on the sidelines

Before the announcement Iinet's share price was gaining momentum and I was very confident of the stock reaching $2.50

However I am not sure in the short term now. I believe the only thing supporting the share price at the moment in the short term are investors holding pre ex dividend

Remember the 15th of March is the cut off point for receiving this dividend

My view has not changed long term