Ann: Vita Group response to Telstra remuneration reductions, page-63

I'm sorry to hear that so many are hurting badly from the recent plunge in SP.

IMO the share price was waaaaay overvalued for a stock with one key supplier, and a massive level of information assymetry between management and shareholders. There is no way VTG was ever worth more than about 10x PE. It made VTG a great short on any uncertainty, as many who were unenlightened would realise this problem after certain news events.

However in defence of management - the only way they could genuinely keep shareholders fully informed would be to let their counterparty and supplier TLS know what they were thinking. There may be some subtleties where they failed to do the best they could. The market did seem to ignore Maxine selling - (which made me frustrated on one short trade I attempted). Every bit of information provided to SH needed to be weighed up very carefully with an eye on Telstra and what they would do with information, and also on employees who may become needlessly concerned about the security of their jobs as well, in the event every went acceptably in their negotiations, and for negotiations with landlords as well. IMO

I doubt that they will have left themselves open to a class action, as they would have reported facts accurately to the market, but withheld personal opinions and conjecture. I believe it requires fraud for a class action to be successful, but others with legal backgrounds will be far more knowledgeable than I about this.