Share
1,644 Posts.
lightbulb Created with Sketch. 282
clock Created with Sketch. 17/03/23
23:02
Share
Originally posted by convexity:
↑
It would be up to ASIC. That aside I'm confident there will be a class action, their accounting issues seem to run so deep that it seems unlikely to be irregularities just for half a year or so, but possibly something that's occured since prospectus/when the company listed, if that's the case it would be a no transaction class action meaning that if the company hadn't misrepresented it's accounts the company would have never listed (because the company never had the sales it preported in the first instance) and in that case the company via directors insurance (most likely) is obligated to repay all losses shareholders have incorrect as the company should not have being listed in the first place.
Expand
It’s all speculation, but I suspect we have been misled for sometime on sales. If that’s the case, I hope JY is not immune - he might be having a few sleepless nights right now
