“Damian Scattini, Partner at Quinn Emanuel, said: “It’s unlikely that the recent alarming disclosures by the company could have come as a surprise to Management – if they did, that’s worse. RCR shareholders have seen a catastrophic decline in their share value.”
Class action lawyers should not give opinions which could further reduce SP. In this case, Scattini has described the news as “alarming”, speculated that management had knowledge significantly prior to the announcement and that lack of knowedge heightens the problem anyway, all of which are opinions and highly contestible.
Ann: Extension of Voluntary Suspension and Class Action, page-8
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