For this classic case, I would think that there are some rules and regulation to prevent the directors to do a misleading announcement. If no one or even ASIC do anything about it, I would be worried. As in the future, I would estimate there will have more directors follow what Forge director do and earn money from this. It can be a future trends. Therefore, my personal opinion is not only the shareholders should take legal action but the relevant authority in Australia should do something about it. I have reflect this to ASIC, I am not sure what they will do but their decision can affect the trends in future. Due to this incidence, I feel more comfortable to hold overseas shares until there is some rules and regulations guard against this from happening. Worried about the future of Aus shares.
FGE Price at posting:
91.5¢ Sentiment: None Disclosure: Held
