The link below will take you to the NSW Supreme Court's list of documents for the RCR class action. Document No 11 is the "Amended Commercial List Statement" dated 30 Aug 2019
Pages 2 and 3 of the statement provide a general rundown of the finger pointing being leveled at the defendants on behalf of class members. Inter alia, the ex CEO is now listed as a defendant.
(For reasons best known to itself, the Hot Copper website will not let me post the direct link to document.)
I have been pretty pessimistic about ever getting a substantial recovery from a class action. My share of the Newcrest action was a cheque for $43. I didn't know whether to frame it or bank it. In the end parsimony made me bank it.
However, it appears that the DML class action may well yield something more than the price of a slab of lite beer, albeit that it still only amounts to a small fraction of shareholders' overall losses. So it's possible that the RCR class action might come up with something more than a pittance in the fullness of time.
Illegitimi non carborundum
Cheers
RCR Price at posting:
87.0¢ Sentiment: None Disclosure: Held
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