It's ridiculous to talk of a class action until all the facts are in. The negativity feeds into all the naysayers and is self sabotaging for any shareholder in PET who genuinely wants to see a positive outcome. Individual and possible collective action can be considered after the detailed reporting is made available to shareholders by the company and it clearly outlines what transpired, the current status of operations, the balance sheet and cash position, recovery procedure to recoup losses stemming from any fraud and the future strategy. Until then it's all supposition so there is no need to be panicked by a document that is intended to tout for a project that may have no foundation and hopefully will not eventuate. Whilst the Chairman, management and BOD have a lot to answer for in terms of operations, governance and timing of share sales, the most favorable outcome given the scale and structure of PET and the best value for stakeholders will likely come from the business trading to its full potential. Prospects that investors in PET anticipated!!
PET Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
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