IMO, all shareholders should band together to initiate a class...

IMO, all shareholders should band together to initiate a class action against the directors of the company for failure to comply with continuous disclosure requirements. Per the ASX guidelines, it is very clear that they are in breach :




What made the situation even worse was when Mark Allison stated that he was puzzled by the 7% drop in the share price in February when interviewed about the private investor briefings. Surely he would have had some idea at that time about how the quarter was performing. And he definitely had sufficient time to update the market at any time between then and the latest earnings announcement in May. The share price has since fallen more than 50% from its highs which would definitely be considered “material”.

Many investors including myself have lost a lot of money because of his reassurances that everything was fine and that the market was over reacting.

What’s the point of having all these listing rules if there are no consequences for not abiding by them.