Ozblue,
I assume your case is no win no fee. If you leave you will be expected to pay for the services you have been provided. The institutions have had target prices ranging from $5 to in excess of $8 just a few months ago and now they won't buy at .295 or indeed at 0.205 recently. Why? Has the business changed dramatically in just a few months? Legal cases take years to resolve so what is coming down the pipeline in terms of revenue is based on cases started years ago, when SGH was a market darling. Much of what SGH has been accused of and led to the Instos leaving has been disproven. ASIC investigation was a red herring. AASB 15 provisions are an accounting change that all law firms and professional services companies will have to endure. Medco delays and office moves are a temporary aberration which will be sorted this half. GO reforms are already delayed and most likely will be watered down hence the write off was ridiculously excessive. Accounting changes do not affect the underlying profitability of the company. Let's hope other companies like SHJ can be treated more maturely when they change over but I suspect they will be mistreated like SGH. If the banks sign off on the books next week because they can see the underlying business is viable and thriving, I suspect we will see a massive rerating in the share price, probably north of $1 where it belongs.
SGH Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held