Agree, i hate those class actions, just unemployed lawyers trying to drum up business with spurious cases. Shareholders always lose no matter what, as even if the company settles, the lawyers take most of the settlement in fees, and shareholders get a tiny payment that comes from the company anyway thereby devaluing it. In the current Treasury Wines settlement the lawyers are taking 45% of the payout! Only ones who win are the lawyers with their fees. Fed government should either ban the cases and only allow ASIC to take such action and or cap lawyers fees at no more than 5% of the payout and then see how many of these ridiculous cases you get. This one is particularly hopeless as the company was entitled to privacy whilst investigating and making a decision on what were complex issues that happened a long time ago.
MIN Price at posting:
$26.60 Sentiment: Buy Disclosure: Held
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