Class Action/Lawsuit against SO4/Board, page-261

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Bullrush007

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08/11/22

13:38

Post #: 64648932
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Originally posted by LHSwordsman: ↑

The report came out some time ago...

As i have said all along nothing will come of the misleading statements or conduct of the Company.

Whilst there have been cases where D&O policies being referred to have responded to Director misconduct, it is rare as the policies are carefully worded to avoid responding in most cases. Tony being overly optimistic about when certain things would happen and the Company being incompetent in project management and budgeting is highly unlikely to be covered by the D&O policy in this case.

A previous poster is correct in that there is no one else to make a claim from other than the Directors and Dermot's report does not build a strong enough case for a litigation funder to pursue even IF the D&O policy responded which it will not.

Only other possibility is for the litigation funder to chase the Directors personally but that is even more difficult and unpalatable for a lit funder as most Directors aren't worth the kind of money a lit funder would expect the claim to be for even if they could prove a breach of Director's duties which as we know from Dermot's report is unlikely.

Every one needs to accept that this is dead and is not going anywhere.

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it’s always best to speak to an independent lawyer rather than a faceless hotcopper account

SO4 Price at posting: 31.0¢ Sentiment: None Disclosure: Held
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Class Action/Lawsuit against SO4/Board, page-261

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