There have been several of these instances in the last 6 months, to name just a handful VBA Virgin (massive fall before earnings downgrade), ROC Roc Oil (huge fall before uneconomical well), TLS Telstra (huge rise before NBN announcement) I've done my bit, bombarding both ASX when they were "regulators" and now ASIC, i just keep getting the same old generic letter "thank you for your correspondence blah blah blah"
"Due to the unique nature of each enquiry ASIC is not able to provide interpretations or recommendations specific to some enquiries or circumstances. If you require further information please seek independent advice through an ASIC registered agent, your accountant or solicitor."
In plain English, you mugs that dare to challenge the integrity of ASIC or the ASX, ring up your lawyer and pay him well (our very own Tony D'alozio ASIC chairman was a partner in a law firm) and in a few years if you can still be bothered going on with it, and have the necessary funds to do so, you might make it to the supreme court..but be warned, we have the biggest baddest meanest most expensive lawyers in town, and we have the backing of all the major financial institutions that fund us so well each year.
You know it makes sense. Over and out.
Sentiment towards ASIC : Think of the worst swear words known to mankind, and then read my lips.
PLA Price at posting:
55.9¢ Sentiment: None Disclosure: Held