I'm interested in how a class action would proceed as well. I'm...

I'm interested in how a class action would proceed as well. I'm with you @82Punter in that I can see a case for the SPX shareholders against the SPX directors (although unlikely IMO) however I'm trying to get my head around a case against the VMC directors.

HOWEVER, if the VMC case was found to be significantly 'without merit' I can see the potential for the case to be referred to various governmental bodies for investigation. This would then add weight to a class action (amongst other potential charges and actions) if there is found wrongdoing on the part of VMC if they could be proven to have resulted in financial losses to SPX and its SH.

I reiterate my viewpoint that with all these heavy-hitting law firms involved there must be something to go on here or they wouldn't put their names behind it, especially Slater & Gordon who are probably working 'pro bono'. The fact that a potential class action by SPX SH was tabled in Court also hints that it has some merit.

The tone and content of @Ladytradr 's post indicate that SPX appears to have their act together whilst VMC are struggling - it will be interesting to see how this matter unfolds.

Strangely this whole drama seems to be losing momentum IMO - could be a fizzer?

*I own shares in both RXL & SPX - they are where I see the upside to the Youanmi region.