Listen to this usual BS cop-out from Steve Johnson, chief investment officer of Forager Funds.
""Steve Johnson, chief investment officer of Forager Funds, held a similar sentiment for investors, despite his firm repeatedly highlighting the business model of the company floated by Anchorage and its advisers Goldman Sachs and Macquarie in 2013.
“All of Dick Smith’s financial information was readily available to investors and it was no secret that ... Anchorage made a lot of money out of the float,” Mr Johnson said.
“Unfortunately, many professional and retail investors didn’t take a deep enough look prior to investing in the initial public offer or buying stock on the market.
“Trying to find someone to blame here, be it ASIC, the auditors or private equity firms, is not going to achieve anything.”
""
BS.
Questions that need to be asked:
- was this company trading whilst insolvent?
- what does directors liability insurance cover?
- someone/people is/are to blame; they should be held accountable. Who is it / are they?
Class action should be on every shareholders agenda. Start finding the holes, the announcements that didn't come, the misleading announcements etc.
Look at past cases where successful class actions have been achieved.
Someone needs to be held accountable.
DSH Price at posting:
35.5¢ Sentiment: None Disclosure: Not Held
