HC didn't post complete original message, here it is:Good luck...

HC didn't post complete original message, here it is:

Good luck proving that it was insider trading... the ASX queried the company on the events surrounding the release of information and they seem happy enough with the response.

He is only stupid if he did indeed know about the announcement when he bought the shares and the company has said that he didn’t. So by you implying that he is an idi0t you are assuming that he is guilty of insider trading and correct me if I am wrong but in this great country of ours is a democracy the last time i checked and within our legal system one should be considered innocent until proven guilty.

So go ahead and sue the guy if it will make you happy, go do the American thing and "Sue the Bastard!" just don't forget that in this great legal system of ours if you initiate legal action against someone and you lose the case then you will be liable for all legal fees and court costs which would be substantial. As much as you think the insider involved is "on 35k a year" he is actually an experienced company executive and will no doubt put up a huge fight. That’s assuming that the company doesn’t fund his legal defence.

The next problem that you have is that when you sue someone in Australia you have to prove to the court that you have enough evidence to make the action worthwhile. If the court decides that you do not have enough evidence then the action will be thrown out and you will be liable for all costs. If the ASX has not found reason to take further action then how do you intend to prove any wrongdoing in court?

People are getting a little over zealous talking about class actions and such. There is no way that your claim would hold up in court if he is not charged with insider trading buy ASIC. So in my opinion all the people saying “Sue the Bastard” should just take a step back and wait for the regulator to make its moves before there is even talk of legal action.

Just my 2 cents worth!