also I’m not saying ISX will win, but just because ASX say they’re comfortable with their case means nothing. How often do you see a class action brought against a company and that company says they will defend it vigorously only for them to turn around and settle? ASX has never had its listing rules challenged in court like this and they’ve arguably never put out anything like the SOR and got themselves into such a bind on a suspension (e.g setting directions and having them completed, independent expert reports not in their favour). ASX are in completely unchartered territory, with a lot to lose. I doubt they can be anywhere near as confident as they claim to be.
