The rest wasn't an issue? They outright stated that all growth...

The rest wasn't an issue? They outright stated that all growth in profit over the past year was attributable to an accounting change. Assuming that the companies rebuttal is accurate, that was false claim, and a hugely irresponsible one considering it would imply a drastically different valuation. They acknowledged a desire to profit off a decline in the share price and expected that to occur off the basis of what appears to be for the most part misleading or inaccurate information. The misunderstanding of accounting practices is inexcusable.  It would be incredibly surprising if there wasn't legal action if as much of the VGI report as it appears was false or misleading as CTDs response implies.

Without having read the report itself, the media statement was laughably juvenile and lacking in any financial legitimacy. They implied that the company is overvalued because its on a P/E twice that of Flight Centre for example, ignoring that they're two completely different companies with completely different growth profiles and financial situations. Despicable that they haven't made the report public when what they reported to the media was a snarky joke, obvious that they were well aware how ridiculous much of it was but it didn't matter, they could have shit on a blank page, sent that as their reasoning and acknowledgement of a short attack on the stock and it still would have crashed in this hyper sensitive risk-averse stock environment.

It's not a matter of onwards and upwards, outlook hasn't changed and it looks overall like what VGI claimed was largely illegitimate, but this is going to be a long term drag on the stock when people are wary of being burned in market darlings like RFG and SGH, and a giant financial win for VGI off a joke of a report.