VOC 0.00% $5.49 vocus group limited

Never got any response to my phone call/message... regardless of...

  1. 418 Posts.
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    Never got any response to my phone call/message... regardless of their automated response claiming they will respond to your call in 72 hours.
    I did however get an email response finally on 6 Jan roughly a month after my initial inquiry.

    "...
    We confirm that, following a mediation held on 2 December 2019, the parties to the Vocus Class Action reached a settlement agreement to resolve the proceeding late last month. The settlement agreement provides for Vocus Group Limited to pay a settlement sum of AUD$35 million, with the terms of the settlement subject to Court approval. In approving the settlement, the Court will consider the reasonableness of the proposed settlement, having regard to Group Members’ interests.

    We will be applying to the Court for approval of the settlement in the coming weeks. At the first hearing, scheduled in early February 2020, we expect that the Court will set out a timetable for the approval process. At this stage, we anticipate that the settlement approval hearing will not be before a date in March 2020 (at the earliest). Based on that timing, the distribution of settlement funds to Group Members would occur in approximately May 2020. Note that this is the earliest possible expected timetable for settlement distribution. There may be further time required and we will keep you updated.

    As part of the settlement approval process, Group Members will be provided with further detailed information, including a notice of estimated distributions and further information in due course. We will be providing a more detailed update to Group Members over the coming weeks, after the Court approves the form of disclosure to Group Members, which we expect to occur at the next hearing in early February 2020.

    If you have any further queries please feel free to get in touch.
    ..."


    So set your expectations that this will drag out until the end of the year... lol.
    If they remarkably actually complete something in courts as per the dates above you'll be pleasantly surprised.

    For the record I managed to eventually make a tidy sum out of VOC but not enough for the amount of of anguish...it was a learning experience for me and how I trade and I certainly picked up of some useful mental resilience and trade skills!

    I participated in this not really expecting anything, but also I really didn't want to not do anything and then regret that.

    We often regret the things we didn't do a lot more than the things we do... mostly due to over active imaginations and a bias toward overestimating the value of good events and overestimating how bad events would impact us negatively.

    A quip I know goes... "I've experienced horrible things in my life.... some of which actually happened."
    Mostly good things are not that good and bad things aren't nearly as bad in their impact - and neither seem to have a pervasive and enduring impact.

    Not sure how much of the $35 million investors would see if is accepted by the court and not worth speculating on unless someone has some empirical data on this, like typical cut that lawyers take and the number of shares owned between all the group members/participants.

 
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