Like I said yesterday,slater&gordon would have gone over this...

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Pos98

395 Posts.

20/09/16

09:36

Post #: 19272353
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Originally posted by Arpit85 ↑

I understand your cynicism but consider this:

SGH bought the business in May 2015 - 6 months is an expected time frame to understand the business which is when they realize there are hidden problems in there which were purposefully lied to them - just about the time they embarked on the PIP.

No amount of due diligence could actually go past the surface no matter whichever way the CEO and Chairman want to sell it. I have been privy of some over seas acquisitions and even after multiple visits, going through the books, cases etc - there is a LOT of things which the original owners have the discretion to not share. I know this because I'm one of the lot who are brought in to find the cockroaches.

So we are back to around December - January 16 when SGH starts to realize they have been quite clearly lied to. It would take around couple of month to actually arrive at the decision to sue quindell and get some warranty claim back. Add 4-5 months to build their case up and you have the current situation in hand.

SGH would never believe whatever the media noise is all about because obviously they have to back words with action and being lawyers they need proofs and evidence. And can't help but feel the timing of this claim is purposefully done to give Watchstone false sense of security and then hit them hard.

I do think SGH would get some money back from this if not all.

If I had heard multiple crazy stories of antics of AG - I would have been more tempted to believe he has no clue but it certainly doesn't appears so.

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Like I said yesterday,slater&gordon would have gone over this with the help of ABL and their Leon Zwier their trouble shooter from ABL so their homework would have truly covered every angle of this claim.

SGH Price at posting: 40.0¢ Sentiment: Buy Disclosure: Held
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Like I said yesterday,slater&gordon would have gone over this...

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