Disclaimer: The contents of this thread are posted without prejudice and are intended for discussion purposes only. Information herein may be inaccurate or incomplete and I take no responsibility for any action anyone takes in reliance to it.
Following recent news of overseas class actions taking place against GMVD and Directors, it might be worth considering the merits of a similar class action in Australia relating to:
A. The conduct of GMV directors during the IPO of GMV on ASX and the period GMV was listed on ASX.
B. The conduct of GMV directors during delisting of GMV from ASX and the period GMV remained an unlisted public company.
C. The conduct of GMV directors during the lead up to the eventual IPO of GMV on NASDAQ and the period GMV was listed on NASDAQ.
If anyone is interested in being involved in a class action against GMV and directors, then please email: [email protected]There are several reasons why we may wish to consider an Australian class action:
A. The willingness of two law firms overseas to take on a class action indicates that they see merit in the current claims against GMVD and directors.
B. There is potential risk that any success of overseas class actions may (depending on relevant laws relating to preferential payments) impede the ability of GMVD or directors to make financial undertakings to reimburse Australian investors for their loss.
B. The overseas class actions may not relate to the period where GMV was listed on ASX (ie. the period where most of us were likely to have lost the most value in our investment) Hence, an Australian class action may be more lucrative for holders.
C. The period during which GMV was listed on ASX saw a multitude of claims made and actions taken by directors which may or may not give rise to legal recourse.
Please, if you are aware of any specific instances where the company has acted in an unlawful way, then please email the details.
This thread is not intended for people to air their personal opinions. Let's keep it concise and factual, using information already available to the public.
