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The Administrators report will be interesting - should be out soon. When the ASQA cancelled Intueri's Aust. registration involving their companies Conwal & Online Courses Aust. they set out behaviours that were non-compliant with the VET Quality Framework. Intueri's various Governance statements gave no indication whatever that their actions were of the nature set out in the ASQA report. To the contrary shareholders felt comfortable after reading the Governance statements. They were shocked when they read the report by the ASQA. A class action would establish whether or not the Board and management were grossly negligent or if they were derelict in their duties. We need to find out the facts together with any other matters which could come to light. It is not without possibility that a class action could win - frankly it is very possible that there would be a good chance of winning. With the loss of the Aust business which represented approx 25% of all revenue the effect was very large. Apart from this shareholders in their right mind would never have touched the stock if they knew what behaviours were occurring. This matter should be kept on the boil - class actions in Aust have never gone to judgement as they are settled by the company and funder to reduce ongoing costs or the matter fails early in the action. Because of the size of a claim a funder could very possibly be found.
