ASIC were largely interested in 2015 accounts and the way WIP was being treated etc.
That has nothing to do with the CA issues.
It seems clear (at least to me - maybe not you) from the report that AG should not have been reconfirming EBITDAW guidance of $205M after the first 3 months of 2016 year. It should have been withdrawn much earlier than 17/12 or else not given.
That is what MB will base the claim on. Given the number of shares bought from late November through to when guidance was withdrawn, the claim amount will be large.
The only thing that would save SGH from a class action is if they had a brilliant second half - like making $180M EBITDAW. But that doesn't look likely - only 4 months left of 2H ..
SGH Price at posting:
58.0¢ Sentiment: Hold Disclosure: Not Held
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