Obviously a judge can make an inference. I just question how much inferring will be done when it was clearly documented at the time of listing that the performance shares could be won on high sales, low margin businesses.
it is a 50/50 I admit, but with the absence of any other compelling evidence would a judge be willing to go this far.
Possibly.
As another poster said, JK and team won the performance shares, but didn't sell them. if this is another factor taken into account, if the performance shares were ill obtained, why not sell them or a reasonable portion of them. We see directors of other ASX listed companies sell performance shares reasonably regularly.
There maybe other factors to sway an inference the other way, but just as many in favour of JK and ISX team.
I don't know where the balance sits. But the accusations in the statement of claim don't appear a slam dunk.