class actions, page-2

Michael, I respect your opinion re the class action. Stewart Cummins however is a very shrewd operator and I think the fact he joined the incumbent solicitor firm(at the time) to the action is a masterstroke. Reflecting on other class actions in the past, they usually get settled for an absolute minuscule amount of what the claimants were asking. In relation to sending the company broke, no judge is going to approve an outcome that results in this if Vocation has offered "something" reasonable to the shareholders as compensation.For instance if you were offered $1000 to settle, or nothing if the company was going to go in to liquidation, wouldn't you take the $1000? Claims cannot be vexatious, they have to be addressed on merit and outcome. I understand your hesitation still. All I can say is that the whole vocation sector is being turned on its head at the moment and Vocation actually now has a clean bill of health from the authorities. Other companies in the space are facing their own allegations of negligence. The federal government is looking at nationalising the regulatory approach for the vocational sector and additionally installing a HECS style payback scheme for students. This will encourage more students in to the sector as they can defer full payment of fees.Malcolm Turnbulls election to the top job also is a boon for the sector as his focus is heavily on education across the board and innovation. Watch this space. Also remember that education is the sixth largest export Australia has and with the dollar falling we look better and better. I am a big believer in Stewart and this vocational space and will be backing him over the next twelve months to two years to deliver a multi bagger from here.