bought and called the brokers bluff

72/72.5 is close to recent lows - should kick. Been buying in amongst them. Need to line up though as it is ever changing.

Sydney - Thursday - June 19: (RWE Aust Business News) - The
Australian Competition and Consumer Commission (ACCC) has commenced
proceedings in the Federal Court in Melbourne against ABC Learning
Centres (ASX:ABS).
The ACCC alleges that ABC persistently failed to comply with the
court-enforceable undertakings it gave to the ACCC in December 2004
following its acquisition of the Peppercorn child care group, by not
divesting two child care centres as required.
The undertakings required ABC to divest a number of childcare
centres in various regions, including two centres in Geraldton, Western
Australia, namely the Kidz Retreat and Little Buccaneers child care
centres.
The ACCC alleges that between December 2004 and the present, ABC
did not divest the two Geraldton centres even though the ACCC agreed to
extend the deadline several times, and this has resulted in a breach of
the undertakings.
The ACCC further alleges that ABC breached the undertakings by
interfering in the role of an agent (who was appointed in 2006 to
expedite both sales) and by failing to reasonably assist that person to
divest the two centres.
A further alleged breach is that ABC failed to maintain the two
Geraldton centres as fully operational competitive going concerns so as
to preserve the goodwill in the centres.
The ACCC is seeking the following remedies against ABC:
declarations that ABC breached its undertakings;
orders directing ABC to comply with the terms of the
undertakings;
orders directing ABC to sell the two centres to a person approved
by the ACCC (or instead to sell one of the other long day care centres
that it owns in Geraldton);
orders relating to compensation for losses incurred by potential
purchasers of the two Geraldton centres;
penalties payable to the Commonwealth and costs.
The Federal Court has scheduled a directions hearing at 9.30 a.m.
on 8th August 2008.