ATM - A2 Milk Corporation Limited

[Beagle]

Directors will want to settle if they have any concerns about the discovery process unearthing untoward behaviour when they sold their shares, or gross incompetence & mismanagement.

When you think about it, it is either one or the other but could be both.

ATM is the ideal company for G&S to take a class action against - $500m in the bank to pay for damages.

https://www.slatergordon.com.au/class-actions

Fees
Our Class Action cases are usually run on a No Win - No Fee* arrangement. Slater and Gordon, or a litigation funder, usually bear the costs and the risks associated with running the case.

Might as well try "hounding" them and see what happens A lot have gone on fishing expeditions with less attractive prospects that what's apparent here.

[Balance]

Might as well try "hounding" them and see what happens A lot have gone on fishing expeditions with less attractive prospects that what's apparent here.

Comments from S&G :

https://www.newshub.co.nz/home/rural...s-reports.html

[Biscuit]

.... gross incompetence & mismanagement. When you think about it, it is either one or the other but could be both.....

It's not a crime to be incompetent of course or dishonest for that matter. Were they deliberately misleading for their own benefit? Possibly, but hard to prove I would bet.

[Balance]

Very much class action modus operandi.

Start building up a case, leak to the media and get others to join the class action and hopefully, whistle blowers to provide information (if any).

Comments from S&G :

https://www.newshub.co.nz/home/rural...s-reports.html

On Monday, law firm Slater and Gordon confirmed to Newshub a number of shareholders had "indicated their interest in potential proceedings" against the company, though "no proceedings have yet been filed".

Slater and Gordon class actions principal lawyer Kaitlin Ferris said the company expects more investors will continue to come forward as the investigation is completed.

"A2 Milk gave market guidance in August 2020 which promised strong growth in revenue – subsequently, the company issued four downgrades to revenue and EBITDA margin guidance," Ferris said.

"Slater and Gordon is investigating whether the information ultimately released by A2 is likely to have been known to the company at an earlier stage, and therefore whether A2 breached its obligations to keep investors informed of material information in a timely manner."

Ferris said the law firm expected to have reached a view about whether there is sufficient basis for a claim to be made in the coming weeks.

[Balance]

It's not a crime to be incompetent of course or dishonest for that matter. Were they deliberately misleading for their own benefit? Possibly, but hard to prove I would bet.

Ever heard of insider information & insider trading?

[HKG2301]

As far as I can tell, the class action is only for Aussie investors.

[nztx]

Certainly looks like an interesting Rat's nest for the investigating

May well be something a bit more smelly lurking

After all, an outfit this size doesn't throw it's records & papers into a large box and turf it across
the Accountants counter every 6 or 12 months..

Probably deserving of a bit of delving back into the last CEO's reign too ..

A CEO doesn't normally liquidate their allocated parcels in a large bundle, shortly before running off elsewhere..

Hopefully any potential action will be opened up for all eligible shareholders ..

[stoploss]

China to the rescue .....
China allows couples to have three children https://www.bbc.co.uk/news/world-asia-china-57303592

[Dassets]

Interesting development, hope their premiums are paid up for PI, PL, D&O. Doubt it’ll get legs but an interesting sideshow.

No insurance can cover you for criminal wrong doing, not even legal fees FYI, only civil and then there are carve outs.

[Biscuit]

Ever heard of insider information & insider trading?

Hard to prove when they've got the fallback argument that they thought covid was only a temporary hit, and lets face it, it does seem they don't really have a clue what's going on in their route to market in China.