Ann: Notice of General Meeting/Proxy Form , page-4

Unfortunately only about one in every thousand class actions that are talked about on Hotcopper ever eventuate.

You're better off making a heard headed judgement call as to the best way to preserve or expand your remaining capital by practical means.

IMO that would mainly involve making a correct call on three things. Is the company's business plan feasible in the current climate? If you believe it is then did the current circumstances arise due to dishonesty, incompetence or bad luck? If one of the latter two, is there a reason to believe things will change?

If you can't find a ray of hope from answering these questions then take your loss, put it behind you and make the money back in a good company. If you want to see self torture dragged out for years, just take a look at the MAE thread. There are still hopefuls spruiking its prospects at 1.5c, after a swan dive from several dollars a few years ago. It's like standing around Humpty Dumpty for a few years after his fall, discussing whether he might still be okay. Better to move on.