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05-10-2021, 07:36 PM
#22791
https://www.nzherald.co.nz/business/...7Y2XQDFDIYFFM/
Chance for New Zealand Investors to claim some of their losses back ?
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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05-10-2021, 07:43 PM
#22792
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05-10-2021, 07:46 PM
#22793
Impressive performance by ATM shares today - green in a sea of red.
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05-10-2021, 07:58 PM
#22794
 Originally Posted by Beagle
Looking at the registration process it looks like its only for ASX registered shares. One question was how many shares did you sell between 19th Aug 2020 and 7th May 2021, if more than 10 lots please send documents, wonder if their system could cope with the amount of documents they would get from me. Lol
Last edited by couta1; 05-10-2021 at 08:00 PM.
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05-10-2021, 08:05 PM
#22795
Originally Posted by couta1
Looking at the registration process it looks like its only for ASX registered shares. One question was how many shares did you sell between 19th Aug 2020 and 7th May 2021, if more than 10 lots please send documents, wonder if their system could cope with the amount of documents they would get from me. Lol
There may not be enough cash in the bank to meet the damages (in the billions of dollars) awarded if ATM directors and ATM are found to be liable!
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05-10-2021, 08:25 PM
#22796
Originally Posted by Balance
There may not be enough cash in the bank to meet the damages (in the billions of dollars) awarded if ATM directors and ATM are found to be liable!
Looks like you don't have to register to be eligible at this stage, you are automatically eligible but will not be entitled to compensation unless you register once the court case starts. Anyway I have sent an enquiry re the eligibility of NZX holders so let's see. Perhaps a good use for their large unused cash pile has now been found. Lol
Last edited by couta1; 05-10-2021 at 08:28 PM.
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05-10-2021, 08:44 PM
#22797
I think its good they're being sued. The BBB team all thought their disclosure was egregiously slow. It'll be a good test case for disclosure requirements. ATM's best defense would appear to be our accounting and reporting systems are so pathetic we didn't know any better.
Another defense might be that the nature of our accounting and reporting system was such that they were fundamentally inadequate for the task at hand, (like the Titanic's rudders, inadequate for maneuvering quickly).
As far as corporate legal action goes, this is definitely going to be a VERY interesting case.
Last edited by Beagle; 05-10-2021 at 08:49 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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05-10-2021, 08:50 PM
#22798
Member
The class action filing has definitely thrown the spanner in the works to the sp… would be an interesting day tomorrow…
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05-10-2021, 09:03 PM
#22799
The ‘class action’, so to speak has been open for some time now, it’s not news. It is an invitation to register interest, it is not guaranteed that there will be a suit. The funder will decide at some stage whether Slater & Gordon have a case and whether ATM has enough money to be worth going after, which obviously they have, notwithstanding company and director insurance.
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05-10-2021, 09:15 PM
#22800
Originally Posted by Balance
Impressive performance by ATM shares today - green in a sea of red.
I tried to find where on the chart A2M (the market that matters) had put in 11 consecutive higher daily closing prices. I don't think it's ever done that before.
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