Although I can understand the frustration that some market participants may have with lack of announcements etc, as this extends the period of uncertainty, which subsequently impacts upon SP (whether decreasing SP level, or inhibiting the extend of any rebound potential), I would like to draw readers' attention to the most crucial considerations:
When there is even a remote chance of any legal action and/or legal liability, ANY entity concerned with such potential risk MUST remember that "silence" is "THE" BEST COURSE OF ACTION so that the entity does NOT risk making ANY statement(s) which could be potentially used against that entity.
ENSURING that appropriate depth and breadth of internal and external investigations are duly conducted; outcomes double checked; then triple checked...and ONLY WHEN the entity is 110% assured that it has 'no case to answer'...to only then make such an announcement.
An entity failing to adhering to such practises would, IMO, be derelict in its duties towards its shareholders.
SP has already suffered (IMO unduly suffered, especially in magnitude of discount - but great opp. for accumulation); hence making 'premature' announcements, which if proven to be incorrect, could not only damage the SP further, but could make it almost impossible to right the wrongs of the penalties placed on its SP by Mr. Market.
Shareholders, IMO, should actually take even more solace from the fact that SGH Management has remained quiet and not panicked with risking any premature announcements which could bit them on the behind.
IMO, when SGH Management makes the official announcement that it has been vindicated of any impropriety etc, and may even address potential legal action against those institutions which shorted the stock then leaked unwarranted accusations to the AFR etc etc, then SGH shareholders (especially those who took the opportunity to accumulate at such discounted prices OR those entering holdings at such prices) will reap their 'due' reward.
GLTA. Legal firm, and a leading one at that, knew, and still knows the implications of legal exposures. IMO SGH will be vindicated...and its SP will track back to more 'just' valuations.
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