Ann: Potential Class Action, page-54

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26/05/17

20:16

Post #: 24940185
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Originally posted by rj22 ↑

Class action is going after SRF first, then Directors insurance, then auditors etc etc (depending on how far they can go).

It looks as I and others have said that current SRF Management have no leg to stand on - their counter case against CoastalWatch almost admits guilt in the class action against them.

Thus the problem for SRF current management is how they settle the class action - and leave themselves a going concern.

There is no incentive for the class action dudes to settle until they get to a number they are happy with and that pays them a decent return - and they do not care whether SRF a going concern or not. Problem is if they push SRF under - will they get anything. Will be lots of game theory here etc...Settlement suits everyone - but at want number / cost....

And all while ordinary shareholders are left totally in the dark - and have no idea whether their shares are worth anything etc. As I have written before I sold at a massive loss and have lost so much on this one it makes me sick every day - I feel the company has real turnaround potential - but just hope there is somehting left for holders and for any of us to buy back into.

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There is an incentive for the "class action dudes to settle"... if they gut the company and it goes into VA, they'll get diddly squat. So it's in their interest if they want anything to let this go.

SRF Price at posting: 6.8¢ Sentiment: Buy Disclosure: Held
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Ann: Potential Class Action, page-54

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