Firstly......he didnt sell them at $7. As a matter of fact towards the end of last year I recall reading notices where the directors were actually topping up their holding.
People paid $7 by there own free will. He didnt force them to do it. That was the price that the market determined they were worth.
There was no lying, no deceit nothing.
Everyone knew the financial position of ABC and the high debt exposure, and those who paid $7 did so with that in mind. If they didnt know then they only have themselves to blame for being so stupid as to not investigate.
I do not see ppl lining up to sue ABC, like they are with Centro, OCV/MFS etc.
It was an investment, and investments are risky.
I guess the tall poppy syndrome is alive and well in relation to eddy.
ABS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
