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23/12/24
17:32
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Originally posted by carnabombers:
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Why don't you contact one of the law firms? Fort a class action to get underway, a law firm would need guarantees that there are sufficient funds in the company for an actual payout. Well, we know there isn't so a class action against LPD wouldn't be feasible. You could mount a civil suit against the directors personally but apart from having to prove that they (either separate per director or as a group) were negligent or committed fraud, you would probably need around $500k for legal fees. And if you lose, you pay their legal fees. You would need to retrieve all board minutes as a minimum as well. They could and would stretch that process out for years. So unless you face losses in the multi millions, then maybe talking about a class action is not appropriate. I'm not a lawyer but the way these class actions go - they take around 5 years and apart from the $, the stress of it would be overwhelming. I suggest you prepare for a tax write off. imho & dyor
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Yes, you're clearly not a lawyer & you clearly don't read any of my posts. You would have seen this if you had bothered to read the actual links in my posts.LEPIDICO LTD (ASX:LPD) - DOCA, LiQUIDATION or CONTROL RETURNED TO BOD, 77003568, page-42 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum The least everyone could do here is call them and explain the situation. What have you got to lose? But you could gain something, not only financially, but also some reputation & respect!! Teach the BOD a lesson!Funding the costs of a class action | Maurice Blackburn