If MNS Directors were ever defrauded (let’s wildly assume that...

If MNS Directors were ever defrauded (let’s wildly assume that was the case for a moment), then it is on them to litigate with iM3NY. Which they haven’t done so far. Why?

Magnis owns iM3NY at 75%. It’s going to be very hard for them to argue they did not know.

I am (well, was) a Magnis shareholder. What I can see at this stage is that reality is very much different from the many announcements and company updates we received. There was a clear and continuous effort to hide the truth from shareholders while directors continued profiting from the business and charging IT service for who-knows-what. This is criminal behaviour.

MNS directors have a duty of care pers asx and asic guidelines. This includes doing due diligence on the company they 75% own. I’ll add the main reason asx companies have boards is to have multiple eyes on everything. Just saying “we did not know” is bewildering. This Defense has zero chance to stand in any court of law.