RE: Argo Blockchain Slapped With Lawsuit Over Misleading Statements29 Jan 2023 19:51
Something similar happened to a company called Tlou who are based in Botswana and on ASX and AIM markets doing a gas to power project. Last year the Australian AISC charged Tlou with misleading statements. After 4 months Tlou paid $53,280 Australian dollars to AISC but no guilt was ever established or admitted and the case was closed. It is extremely hard to prove that a company has put out mis-leading information. I think if ever there was a case for mis-leading information on AIM, Sirius would be top of the pile by a country mile. If I remember rightly a Norwegian bank invested £250M in Sirius just months before it went breasts north. Not to mention the 85,000 PI’s that got royally bent over, some having transferred their entire pensions into Sirius and were financially ruined. There was mentions of class actions but at the end of the day, how do you prove they mis-lead investors? All the CEO’s say is “that is what I believed at the time” The stock market is also protected by that quote in times of trouble.
“Stocks can go down as well as up. Your capital is at risk and you may get back less than you invested” I certainly did.