ominous signs for class action v mxg Not true but you would have...

ominous signs for class action v mxg Not true but you would have to look at the contracts. The cap is on the delay penalties but I would be surprised if there was not provision or circumstances for other action. The costs in this litigation which I think MXG will lose will follow the judgement and will be monumental on UK scales which run to $1000s per hour for the lawyers on both sides.

What you want to watch out for is the class action that has been prepared and is ready to go over MXG's failed disclosure here when raising capital and it is claimed was aware but did not disclose the problems.

Take a look at the Jubilee mining case in today's paper where one shareholder won a million $ verdict because the company had failed to disclose. Also look at the High Court decision last week that allows 3rd parties to run spec cases for a percentage where the litigants don't have the brass to fund it themselves.