I highly doubt the class action will end up going anywhere unfortunately, a high bar to clear given the pandemic unless management negligence can be proven.
cout, wont some of the action if successful be covered by insurance ?
I highly doubt the class action will end up going anywhere unfortunately, a high bar to clear given the pandemic unless management negligence can be proven.
That is what I have been saying since the beginning. I presume at best an out of court settlement which would be in the tens of millions. Like an itchy bite for ATM in the longrun
That is what I have been saying since the beginning. I presume at best an out of court settlement which would be in the tens of millions. Like an itchy bite for ATM in the longrun
maybe
maybe not
but dont forget the significance of the failure as regards the merits of the company and its duty to shareholders.
Its not just if they 'get away' with it. Its the failure itself and the motives behind it that should affect your view on this company.
I don't think its possible to overstate the extent of the reputational damage done here. Regardless of whether their actions last year are successfully actionable or not its clear their systems were antiquated, their inability to read the situation was mind blowing and the speed at which they have since moved to address the situation is best described as "glacial".
I think its also readily apparent the operating environment has materially changed and there's clear headwinds to growth going forward.
They can articulate any revised plan they like but can they execute it ?
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
Originally Posted by couta1
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