Forum Archive Index - June 2000

[Mike Nelson <bb2345@ihug.co.nz>]

I think they need to be commended for doing it and perhaps we could get
them onto a campaign to induce the pathetic NZSE to make Market depth
available so it is truly an even playing field.

MN

At 04:26 PM 16-06-00 +1200, you wrote:
>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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