Sorry for your big hit, I have been there too, in fact I lost two houses, back in 2014 when forge Group director was painting a rosy picture and lying threw his teeth at the same time.
Top 200 ASX, dividend paying and where is it now.
I still hold the paper and to make the matter worse I got excluded out of the class action.
so I feel your pain.
plan to fight another day, some good advise and support here.
Should you and other investors strongly believe or can prove that some series miscommunication or misleading information has taken place on behalf of the LCT or by the directors, then a class action law suit is not off the card.
More so the directors hold personal insurance, for just in case times, if proven that on or some of the directors have failed to communicate or pass on important information to the market, they could be personally held liable.
If proven at fault, then the share holders take priority over creditors and employees, where as normally its the other way around and the share holders are last in line.
I know this is not a simple way out, but if proven could be one way of shareholders being compensated for the loss.
I was in a position to average down after the drop and recover most bar 18k so I am out of LCT, only bought for the announcement.
(20min delay)