IMO the class action is the way to go but we need to understand who the right targets are including the roles they played. The Directors obviously but the role of KPMG, Korda Mentha and company lenders should all be examined as part of any action. SHs contributed approximately $250,000,000(need to confirm) through various CR with a 100% write off outcome. Who are the larger SHs and who is likely to instigate the class action and timing? 2023 is the year to get the class action underway assuming a major litigation funder is willing to build the syndication team. I am sure there are many willing SHs who will participate.
SO4 Price at posting:
31.0¢ Sentiment: None Disclosure: Held