Ann: Disclosure Clarifications - AFR Article, page-23

Yes, the inference is that they made a bad call. They considered the dispute, decided it wasn’t important, so didn’t tell shareholders. In view of how it has all since played out, I think any shareholder class actions will hinge on whether they failed in their duty to uphold continuous disclosure obligations.

Just because you think something isn’t important, doesn’t mean you can ignore it, and not tell shareholders. They clearly got that wrong. But I guess they see themselves as having no other choice but to double down on this strategy.