Andy76
RE class action, I have made an inquiry with IMF Bentham who incidentally considered their options with WDS in 2010 . The reply was - We have recently reviewed the potential for funded litigation against WDS Ltd and we are aware of the company's circumstances. Our view was whilst there may be grounds for alleging non-compliance with the disclosure regime there are risks around the claim size being too small for funding to be commercially viable. Nonetheless we remain open minded and I would be interested to hear what specific information you believe the company has not disclosed.
Without examining the books it's difficult to assess where exactly the company failed in their disclosure duties. What I do know is that I bought shares in the company after TC 's favourable report only to see the share price drop from $1 to 80c. I was puzzled as to why the share price was dropping only to learn that TC was selling - therein was my answer.
I would be interested in the views and opinions of others concerning 'specific information' that may assist in a class action. I'm sure it's there, just a matter of pin pointing it.
WDS Price at posting:
10.5¢ Sentiment: None Disclosure: Held
