People would want ASIC to take action if they think director misconduct or misleading announcements has caused the destruction of shareholder wealth. While it may be too late to recover losses, ASIC action may prevent a repeat in the future.
Not saying that has or happened in this case but the only real action we see is an ASX query letter asking a few questions which they rarely follow up on.
A corporate disgrace where is asic, page-5
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