It is pretty simple.
- There is no circumstance that you can be asked to contribute any money - None
- If the claim is successful - out of anything that you win, you will have to pay a proportion to the funder. The proportion is based on time to settle, and the costs borne - it is probably a safe bet to assume you will pay 25/30%
- As to what you might receive if they are successful - it is almost impossible to tell
- As to whether any individual should join or not - this is very much a personal thing. I sympathesise with those that say do not join, as you will be destroying the company (potentially). However for me it was simple - if I had known that the EBITDA number was not going to be what they said it was going to be (and reiterated) - I would not have bought the stock when I did - so I joined the action. Once again - personal choice - and I understand others who have different views.
Whatever happens - this has been a disaster of monumental proportions - and Cameron and Board need to be held accountable in some way for actions that at a minimum were incompetent and at a maximum (well lets see what ASIC etc say).
RJ
SRF Price at posting:
6.8¢ Sentiment: None Disclosure: Not Held