Forum Archive Index - June 2000

["Oliver Shapleski" <oliver.shapleski@vuw.ac.nz>]

True, perhaps a little cycnical.  I do in fact thoroughly support Messrs
Franks and Kerr; just noting that it's sad they're the only ones to come
forward and demand action thus far.

OS


----- Original Message -----
From: Mike Nelson <bb2345@ihug.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Friday, June 16, 2000 9:18 AM
Subject: Re: [sharechat] Fletchers and Insider Trading


> Wha a cynical person you are Oliver.
>
> MN
>
>
>
> At 05:55 PM 15-06-00 +1200, you wrote:
> >              Oliver    ----- Original Message -----    From:    Ben
> >Dutton    To: sharechat@sharechat.co.nz    Sent: Thursday, June 15, 2000
> >1:58    PM   Subject: Re: [sharechat] Fletchers and    Insider Trading
> >   Hi Oliver,       In Stephen Franks press release about the Kerry
Hoggard
> >matter, he    said:       "We think the most he could be ordered to pay
is
> >approximately $600,000,    but the final measure of damage may be
> >significantly less, and the maximum    penalty the Court can award, is
> >three times the gain.
> >We will also be asking the court to establish some useful precedents,
to
> >reassure applicants in such cases in future that they will be fully
> >reimbursed for all the costs and risks of taking these proceedings on
> >behalf    of shareholders generally. Anything received above the costs of
> >the action    will go to charity."       Hope this helps answer your
> >question.       Best Regards,       Benjamin Dutton
> >        ----- Original Message -----      From:      Oliver Shapleski
> >To: sharechat@sharechat.co.nz      Sent: Thursday, June 15, 2000 11:02
> >AM     Subject: [sharechat] Fletchers and      Insider Trading
> >          How did      you Fletcher shareholders feel about the company
not
> >going any      further?                                 If      Stephen
> >Franks is leading the action to restore FLC's reputation (and I
assume
> >with his expertise he knows that he can), where does the money      go?
> >      Oliver
> >
> >
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