This class action is likely not going to stick for a few reasons:
1. actions taken by management were timely in the lead up to the trading halt. see response to ASX query by management. 2. that one day exposure was because it was the Irish entity that needed to literally wake up to this matter. Time difference. 3. As a regulated entity, correspondences with CBI happens in the normal course of business
The only thing that could go “wrong”, would be a thorough investigation on interested persons trading on privileged information on 15 May. Those people will include the ones that were in the calendar invite. If they did no trades, then no harm done.
EML Price at posting:
$3.13 Sentiment: Buy Disclosure: Held
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