1sharetrader1, while I respect your views I'd have to say that if you applied your view to all debacles such as this there would never be a prosecution of a director and we'd all be worse off in the long run. ASIC must first be convinced there is a case to answer before acting, and if they do think that, why shouldn't they act ? Because it will impact the ability of AVX to get back to business ? In my view AVX has failed and it's time for the autopsy.
The share price today refelcts the current cash backing so I'd say investors aren't worried about the cash being depleted by legal action, instead they think that AVX has no ongoing business and its worth is its current cash backing.
Liability in this type of case is generally covered by D&O insurance.
AVX Price at posting:
2.5¢ Sentiment: Sell Disclosure: Held
