Or if Isx wins we can sue for lost opportunities.We have not...

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Druss

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22/02/21

15:53

Post #: 51219768
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Originally posted by naomhan: ↑

We've made views of the likelihood of success in other threads, so sticking to the question in hand.

Note: Not a lawyer. Just what I think the options are...
If ISX win, but narrowly (eg. ISX reinstated, but courts view that there were reasonable questions being asked and ASX operating within their power), then we don't have much of an argument and it wouldn't likely go ahead.

If ISX are completely vindicated, and the ASX reprimanded by the court, and the share price never recovers, even in light of damages to ISX, there could be questions of lost value of shares. To do that, we could easily examine that historically, long term suspensions result in severe drops on share value regardless of outcome, based on increased risk perception on the market. To do this, we'd need it to be proven by the courts either that ASX didn't have the power to suspend, or that their prosecution was malicious. These are high bars to satisfy, but if we can, damages might be available based on share price adjustments.

If ASX win, the class action would likely go the other way - directors would be proven to have deceived shareholders to acquire wealth/shares. Shares would be cancelled, and we could seek damages from directors for lost value, etc, as well as potentially director actions (remembering that they used company money on legal fees to prevent ASX releasing information - if the directors are found to be at fault, that becomes ISX directors using ISX shareholders' money to avoid incriminating information getting to ISX shareholders).

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Or if Isx wins we can sue for lost opportunities.
We have not been able to access our funds during a huge rise in the market. I know personally that I have missed out on some healthy returns. I'm sure there are plenty of others out there in the same boat.

ISX Price at posting: $1.07 Sentiment: Hold Disclosure: Held
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