law suit is just sabre rattling, page-12

They admitted fault EVENTUALLY. Before that they fought tooth and nail...even fleeing the country. They admitted fault or the class action worked. If semantics help you sleep at night then sweet dreams.
Here's another little history lesson from the vaults of HIH. Particuarly interesting since the CNP rampers like yourself are putting so much faith in the NTA

HIH shareholders launch $70m class action
A group of 1,200 shareholders have launched legal action in a bid to recoup an estimated $70 million in losses following the collapse of HIH.
The group are suing directors, former directors, auditors and reinsurance firms on the grounds the shareholders were misled and deceived when they were told about the value of the shares.

Speaking outside court, Mr Dennis said many of the shareholders involved in the class action had lost substantially by investing in the failed company.
"Some people had put a substantial amount of their money into investing in insurance companies and especially when there were press releases saying the company was worth about $1 dollar a share net tangible asset backing," Mr Dennis told reporters.

"A lot of people invested in the company when the shares dropped below 50 cents because they thought `well this is less than half net tangible assets' and so there was a lot of movement to the share register towards the end."