You are allowed to make bad decisions, its called investing. All they have to prove is that they beleived quindell was a good investment.. The banks signed off on it, so the business was solid.
The removal of guidence's is also full proof, guidences are managements opinion of how much they will earn, the ASX requires them to change guidence when they beleive it will be 15% up or down. The osborne reforms were also announced hence they changed their guidences..
What is the point of a class action? You will only take wealth from current shareholders who are already sitting on large losses..
SGH Price at posting:
27.5¢ Sentiment: Hold Disclosure: Held
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