re: class action asx release
As many of you are demonstrating complete ignorance of how such litigation works, let me explain it to you.
IMF is NOT suing VLL; they are suing THE DIRECTORS of VLL. Different legal entities.
As shareholders, you should realise that the way directorships work is that directors get paid lots of money in exchange for taking responsibility for the company's operations (including the appointment of management).
Furthermore, such litigation cannot proceed unless a claimant can demonstrate that they have suffered a loss as a result of the actions (or inaction) of the defendant. Therefore, as ALL's shareprice bounced back, most of the claimants would no longer be in a position where they had suffered a loss, therefore, there was no point in IMF continuing to pursue ALL's directors. It has nothing to do with "embarrassment".
Now, can SOMEONE PLEEEEAASSSE say something informative and intelligent???!!
