Because that's not how it works. ASX will investigate a...

Because that's not how it works. ASX will investigate a complaint or query if they think's it's necessary but only once it's received. In this case it appears that ASIC made the query. They may have done this off their own bat or someone queried/complained to them. It doesn't really matter what the chain of events were but this discussion has been had time and time again, at some point the ASX have to draw a line in the sand to protect future investors, unfortunately this may be to the disadvantage of existing shareholders. Now having said that if the company has done no bad then what's happened should have no significant negative impact, and trust me, a suspension of a few days is a minor annoyance in the grand scheme of things.

There seem to be many new(ish) investors here and my advice would be this: If you see a deal (sale/partnership etc) that values a company significantly more that what it was prior then regardless of it's legitimacy expect that company to be very closely examined. Don't T2 these sort of trades because there is a very high likelihood in our current climate that your money will get locked up, be it over an investigation, a cap raise or a deal falling through.

If this sort of event is causing you a great deal of stress then, from someone who's been in the same position twice before, you're playing at the wrong end of town. There is a far higher chance than you think of loosing all your cash on any given position at any given time, or at best having that position frozen for longer than you'd like. Taking reasonable positions based on your capital is one way of mitigating the effect of it happening, but it still happens.