Good post bensk. For what its worth i am a big admirer of...

Good post bensk.

For what its worth i am a big admirer of Stewart Cummins and i dont think the company could be in better hands. If the company is able to recover on its merits then i have little doubt he would be able to take it back too & beyond where it once was.

That said i dont think the risk the class actions pose can be ignored. A capital raising of approx $74 million was conducted only a few weeks before it became market knowledge that the Victorian Education Dept had pulled funding from VET colleges. Hundreds of millions of dollars was wiped off the market cap of the company (and the value of investors holdings). How do you think the investors that subscribed to that capital raising would feel? What message do you think regulators want to portray for the importance of market disclosure? It is one thing for a company director to argue that they relied on their lawyers advice for what needs to be disclosed to the market but wouldn't you think a director, none the least a CEO would have an awareness of their disclosure obligations? I have no idea how this will wind up in the courts, but i dont think i could hold significant capital in this stock & sleep soundly at night.

These losses are now multiples to the current market cap and if the courts uphold the claims the mind boggles as to where this could end up.

Good luck to those brave enough to hold & hope.