ISX action against ASX is a vexatious exercise in optics, nothing more. If ISX wanted a result in front of a judge it could have done so long ago, instead ISX chooses to amend its claims which has the effect of delaying a verdict from a judge. ASX did not list the announcement of damages as even price sensitive, and obviously it has a legal obligation to do so if the board receives advice that there is a chance of damages being paid. Also, now that ASIC is suing ISX/CEO for reasons and allegations also contained in the ASX SOR, the idea that the SOR is misleading, deceptive and that ASX treated ISX unfairly is severely damaged. In other words, not only was the action always obviously vexatious, it is even more so now that ASIC has moved on ISX with allegations that ASX also came up with the SOR, the same SOR that ISX needs to prove is misleading and deceptive to have any chance at damages. The company is wasting shareholder funds purely to pursue the optics it is fighting a regulator out of control.
