I'll need to see the company response/rebuttal/announcement before I decide what to do.
If management are shown to have been negligent in carrying out their communication responsibilities for a listed company to a reasonable and professional standard and the share price on opening plummets as a consequence of exposure of this negligence, I would have thought that your ability to join any class action would not be affected based on whether you had sold or not. Everyone will plot their own course in an effort to minimise or limit their losses. Am I mistaken in that belief? You would still be able to quantify your losses that have resulted from management's actions. If ASIC consider the company has a case to answer that would also strengthen the validity of any class action that might be undertaken.
At the moment we're all getting ahead of ourselves and we should all just wait to see what is in the company announcement, which I hope will be extremely comprehensive. The company isn't dead yet with almost $100m in the bank and some potentially huge contracts to execute.
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