How much lower can this go?, page-7

Not a prediction, but the theoretical bottom is zero.

Note - aggrieved probationary former employee suing for unfair dismissal is taking action against the directors, not the Company which employed him.

Probably because he and his lawyers want to make some bank $$ on this and there is a possibility >nil that TER goes down the gurgler. While presumably Wal King et al are good for hefty payouts.

It is all very well handwaving the claims off, but if the customers stop sending ships because of the controversy - cash flow takes a hit.

If claims can be proved for fudging the shipment results, and ALS's ASX statement suggests this is possible, TER could be tied up in litigation for yonks.

Note - the AFR report of the action quotes litigation boy as stating:

, The alteration would “inflate customer invoices and prevent customers exercising their contractual rights to reject cargoes”

If contractual rejection could be proved, potentially some or all cash receipts for individual cargoes could be required to be repaid and there may even be damages claims.

This is pretty uncharted waters. Maybe everyone skates past the pile up like Steven Bradbury.

However, I write as one who rode one of the high flying wannabe coalies with kooky management all the way down. All that I have to show for the ride is a baseball cap with a defunct company logo on it and a painfully large hole in the bank account that the Missus will never let me live down.

But please take professional advice before acting.