Yep ASIC had 2 bites of the cherry and both accounts come up negative with serious damage to SGH's business....as people don't think this would have added to loss of business for SGH and hence revenue impacts.
I really have to say ASIC is the most complete useless bunch of tools as you have constant market manipulation etc that goes on in the market unchecked that blind freddy can see and fail to act on yet they manage to contribute to the potential demise of what was a blue chip reputable law firm. Sure SGH executive played major contribution there with dreadful acquisition of Quindell. But class action against ASIC - to be frank if legal action was possible for the really crap way they went about their investigations it would be deserved in my opinion as they have a case to answer.
Some heads should roll at ASIC for their incompetent handling of these investigations and damage they have done to SGH's business.
SGH Price at posting:
14.0¢ Sentiment: None Disclosure: Held
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