Legal actions against VGI Partners, page-40

None of the facts here paint a troubling picture or justify on a fundamental basis a cut to a price target that large. However:

"Given the recent history of other prominent public short campaigns (such as Blue Sky and Quintis) we expect the report will have a destabilising effect on CTD’s share price at least in the near term, and as such we retain our Hold recommendation."

"Given the short report focuses on issues such as accounting practices and financial disclosure, we do not expect any material impact from an operational or client activity perspective. However with other recent prominent activist short campaigns in mind, we feel the near term risk profile of CTD has increased."

Again this is why I suspect serious legal action is a strong possibility. The markets sentiment and the price have been solely manipulated by the fact that they are aware public short campaigns are very bad for the price in the short-medium term, regardless of what they specifically regard, and VGI have clearly abused this, fundamentals be damned. Even investment banks like Bell Potter seem to acknowledge this in their recent report.  I am a holder and don't believe on the evidence I've seen at this point that even 10% of the claims VGI was presenting in their media statements appeared legitimate with reference to the CTD rebuttal, however I KNEW 100% that the share price would tank, because there's no other way around it in this market. Clearly there was intention and awareness that the report would move the share price drastically, the only question is if and how misleading the made claims are.