Class ACTION Experience :
I recall the One Tel debarkle back in 2001 where under the leadership of Jodee Rich & Rodney Adler both James Packer & Lachlan Murdoch invested plenty and were on the Board but the Business collapsed owing some AUD 350 Mil
I also got caught up in the hype - invested in Dec 2000 and 7 months later BANG !! the lights went out & shut up shop - lost the lot.
So the subject of a class action :
The lawyers came hunting for disgruntled One Tel investors with the promise of get some losses back ! sounds very familiar - so back then signing up for a piece of the action was funds up-front to run the campaign, end result we got nothing !! the Lawyers got feed off all those who believed their rhetoric.
This is not investment advise just some experience learnt.
ST
Mesoblast Shareholder Class Action (VID268/2022) – Notice to Group Members, page-63
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