If BLA has 'lied' as you state, then they have breached the Corps Act false statements provisions. At best IMO, it may be possible to argue a case of engaging in misleading and deceptive conduct, which has a very low threshold under the Corps Act, namely 'likely to mislead or deceive', as judged by the effect of any representation on a hypothetical member of the class of investors to whom it was made. However, it is too early for this, as ASIC needs to follow procedures, and any investigation takes time. Also, the types of representations BLA has made are not new, or unique to BLA, and have already been raised in the past.
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