re: class action asx release
Much more cut and dried case and even then still took four years to settle.
Arose as a consequence of the advice by the GIO Board in 1998 to their shareholders to reject a takeover offer by AMP of $5.35 per share. Those shareholders who followed the Board’s advice subsequently had their shares acquired under a scheme of arrangement in December 1999. A class action was initiated in August 1999 and was decided in August 2003 in favour of the former shareholders.
