If Slater and Gordon are handling the class actina then you can be fairly positive they will be securing special legal funding.....normally from an outsourced litigation funder.
if this is the case here, the litigation funder puts up the coin to fund the lagal battle and take x% of any return to shareholders plus their expenses back.
Have they filed the class action in the federal courts yet?
Liability will fall on the company itself and directors can be held personally liable if proved to mislead blah blah blah however more often thatn not the company foots the bill.
You would want to find out if any institutional investors are taking part in the action, that is nomally a good indicator....makes me feel a little bit more warm and fuzzy if the big boys are in.
Slater and Gordon..on behalf of sareholders and investors..
may be able to recover some of the losses alleged or were sustained as a result of......."insert reasons here"....
The cliam is usually for an amount based on how many join the class action and their percived or alledged losses.
Misleading or deceptive conduct by directors and or company and or faliure by the company to give continuous disclosure obligations is sometimes the main reason for a class action.....but again im guessing here in the case of CVI as i dont know the full story.
PS....not a lawyer here either....lol
just a bloke with too much time on his hands.
CVI Price at posting:
0.8¢ Sentiment: None Disclosure: Not Held
