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ozexplorer

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06/05/18

22:59

Post #: 32918140
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Originally posted by albatrader ↑

Hi all
As I have previously stated earlier in this thread, this whole idea of a class action is nonsense in this instance.

As shareholders of NXR you can only bring proceedings against NXR.
I believe it would be difficult to find a basis for bringing an action against NXR.
It simply made an investment in WBT and unfortunately at this point in time that investment seems to have not worked out.
That is the nature of the game.

Whatever has occurred within Wavefront is for its own shareholders to deal with.

And finally, it should be remembered that launching any legal action requires $, and it is highly unlikely that anyone would fund any class action in given the circumstances of the current situation.

So while you can all talk big about this, its really a waste of time.

The focus should remain on what NXR will do over the coming months to resolve the situation and hopefully ensure that a permanent delisting of NXR does not occur. Refer to the quarterly report which alludes to funding avenues to keep NXR as a going concern.

I am of the belief that continued talk of class actions etc is detrimental to the future of NXR.

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True it is a very tricky situation.....But I am sure if a number of shareholders made a complaint to the Federal Police or State police a investigation would have to be started....

( the outcome who know's )

Those Shareholders in Wavefront can take a different angle in this matter....

Your right Albtrader a class action will NOT be any good in NXR's situation..... ( waste of time and money with little achieved )

This one would be a good case study for ASIC an the Federal Police....

NXR Price at posting: 2.0¢ Sentiment: None Disclosure: Held
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Who wants to start a class action going..., page-81

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