I was in the Bellamy's class action which was actually successful, and even that felt like a waste of my time. Took something like 4 years to get some pitiful fraction of my (admittedly small) loss, after all the lawyers took their cut. And that's when there was a pretty clear cut case to make as the management provided zero indication of anything wrong before a massive downgrade.
There is virtually zero case here by comparison. A2 already flagged pantry destocking issue in August and there was alot of language around uncertainty present in the August guidance. Hindsight shows it was overly optimistic but that isn't a case for a lawsuit (unfortunately for those who lost out).
My biggest question is who pays A2's legal fees when the action inevitably fails. I know in theory it is S&G, but weren't they nearly bankrupt?
A2M Price at posting:
$6.52 Sentiment: Buy Disclosure: Held
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