You are probably right and it is a little unfare however I do at times get frustrated when logic is ignored and I risk loosing money.
"Oppression" is an interesting term and is based segregating a class or minority. In CMI's case the arguement the board can derive is that both classes have not recieved a dividend so therefore no classes is oppressed.
On the other hand assuming that benefit is derived by not paying the dividend is false as the ordinary shares by right should go up based on the underlying business performance. How you can prove in a court of law that the ordinaries are benefitting anymore than what the underlying business is doing is beyond me.
I am no lawyer however I do have an understanding of how our courts operate and you only need to look at the length of time a judgement is taking on the Tinkerbell case.
I'm sure if enough of the A Class shareholders got together they coudl drive this through the courts, however you do need funds to take it to the courts. It is worth remembering that the majority of A Class holders that voted at the last buy back, the constitution states that a 75% majority is required to get the vote up.
CMI Price at posting:
$2.30 Sentiment: Hold Disclosure: Held
