Look, I tend to agree with shimmer and Lilypily here. The Corps Act 2001 ( Cth) requires every director to exercise reasonable care, diligence and skill in discharging their duties. Management failed in that regard when making the announcement to market. Stop defending them. According to the deal their two primary objectives were investors and patients. -50% return doesn't pass the former. If they released the presentation (BTW which contained new information in regards to Retts phase 3 expenditure and should have been marked market sensitive) at the same time then that would have been just acceptable. Better still they should have included a clear WHY they picked ARCADIA.
Cheers,
5x8's
Ann: Neuren and ACADIA announce agreement for North America, page-441
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