"Again, I would urge a shareholder push for some sort of class...

"Again, I would urge a shareholder push for some sort of class action in this case wih regard to the allegations against the Board and Management of CVI."

Iron_mike,

While I agree with you totally, who is going to pay for the legal costs in the class action ??
Because, unless the Directors have some sort of Indemnity Insurance for their wrong doings, no one will take out or initiate any class action against them. Unless there is money there, the Lawyesr will not even consider doing anything, unless they are prepared to be working for free.

And, IMHO, I don't believe that they did have any Insurance either. Reason being that, IMO, they possibly knew that if they didn't have any insurance cover, no one, including ASIC would have done anything about it. Cons they are if you ask me. Real cons.

Why do you or anyone think that ASIC did nothing about it while our Management was so blatant about what they were doing, that even blind Freddie could see it coming.

Why didn't ASIC tried to do anything about bringing these people in front of the Courts well before this ?? Think about it.!!! There was no money there to recoup any of the costs involved in doing so. That's why.

The whole Regulatory system suck IMHO and it sucks up big. But don't ever hold your breath for any quick changes coming either, unless you want to become blue in the face while holding your breath.

What we need to do, is to put pressure on our Politicians/Lawmakers, and tell them that they will have to do something soon to protect unsuspecting investor from being blatantly ripped off.

And let me assure you that CVI is not the only one where Management seem to be getting away with blue murder, while the investors got skinned alive.

And all because white collar crime is rife and it always seem to get away with anything, while the poor beggar that may steal a loaf of bread because of hunger, will go immediately to jail.

I have had my bitch now. So good luck to all.

Regards to all suffering investors.