Thanks for that. All I was saying is be VERY careful what you are signing up for. Mr Messey from ABC's report lost $170K in Great Southern... than lost ANOTHER $300K+ and bankrupted. It is up to you to sign up or not with informed choice.
SC tries to get everyone to sign up, but there are fees you don't know about. I know Great Southern is a different case and different fee, but lawyers are NOT doing this for free out of their kindness. Has SC discuss FEES on HC?
If you loss class action.... who pays for BOTH side lawyer's fees???
If you win class action.... who pays for BOTH side lawyer's fees??? What if PDY placed in VA, who pays? What if insurance company (also have lawyers) find way to get out under subclauses of insurance policy?
Director's insurance company also have lawyers to defend the claim. This may become PDY company paying for it or partially paying for it. I don't know the details, but insurance company can claim that announcement was not reviewed by company lawyer so it is PDY's problem/responsibility. Insurance company have lawyers and money, they can drag on for many years. I know someone still claiming a car accident 5 yrs ago and clock up $100,000 their own legal fee.
PDY has $530K left as at 30/9 and December quarter spending $350K, so by 31/12 probably only $180K left... given IO is at $68/t and very hard for any company to raise fund... who will pay for running cost, lawyer fees etc.
Just IMHO
PDY Price at posting:
0.6¢ Sentiment: Sell Disclosure: Not Held
