Apologies for starting another thread and feel free to virtually yell at me over doing so.
However, I want to gauge the appetite for shareholders to opt-in to a class action. I know plenty of litigation funders who would be interested in funding this in progressive stages. The first step would be seeking orders for preliminary discovery against potential defendants to ascertain the merits of the claim/s. Targets would include Arena (potential insider trading), CJ et al (breach of directors' duties), any instos or large shareholders who sold on Monday and week prior to auction (potential insider trading - obviously some were wise and just took profits, but others might have held info), and of course the ASX. Discovery orders should also be sought against the company to see any comms between the company and buyers, instos or anyone discussing t/o's.
Obviously this is not an accusation that we have a claim against any of them, and that is the function discovery serves. Second step would be to file proceedings against anyone with deep pockets and a poor defence based on what arises out of discovery.
Depending on the response to this thread, I might contact a lit funder tomorrow who would not be greedy with their cut. If anyone has any questions about litigation funding and/or process go for it.
MUS Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
