From my experience with a couple of past CA's against companies I was invested in, the first question is whether there has been intent to deceive or defraud shareholders through things like concealing or misstating information. Secondly, what is the nature of losses to those shareholders. I'm not going to comment on the first part - that is for the legal system to decide. But if the share price did not move after an announcement such as the fruitbox one, then it would seem to negate any claims because no one lost money.
GSW Price at posting:
38.0¢ Sentiment: Hold Disclosure: Held