15225 replies to this topic

[Matrix]

If Steinhoff share holders can sue for their loss (based on ......... whatever they wana base it on), then I (personally) don't see any reason why not MTN share holders (and any other listed company) can also do so when their share price go down based on ........... (whatever they wana base it on, e.g. in case of MTN: management failure to adhere to Nigeria rules yet for a second time ...etc.).

 

Did the share holders get a written guarantee when they bought, that the share price will not go down !!!!!!

 

It's not about a guarantee that the price won't drop.

Obviously if a share price drops a company cannot be sued.

 

In this specific case it's about misrepresentation.

IF (it has to be proven) Jooste and SNH management for example used different SNH companies and inter-company loans to boost profit they created a false balance sheet and income statement.

This was (theoretically) done to inflate figures and obtain more loans to expand.

Then the company (or specific individual) can then be sued because they misrepresented figures in order to willingly dupe people into believe it was going well.

[Ms Jet]

Ive always thought that..if you owned at 70 and you cashed in at 20 tough...

[Lionelza1]

My gut feel is the courts may tell them to wait for the PwC report. No one can exactly say what happened. All there is so far is lots of negative press with many conspiracy theories and the possible three bucket theory from a CFO that did not know much!!! For me the only investors that have a right to claim something is the ones holding on to the share and only if it is found that the board of SNH was involved in illegal practises. In MTN case will the MTN investor now sue MTN or the Nigerian government for the fine?

 

If anything, Deloitte should beheld accountable AND responsible for this, afterall they are the PROFESSIONALS that charge huge fees for their services.

 The Arseholes are pretty quiet in all of this

[DayTraderDad]

If Steinhoff share holders can sue for their loss (based on ......... whatever they wana base it on), then I (personally) don't see any reason why not MTN and all other companies can also do so when their share price go down based on ........... (whatever they wana base it on, e.g. management failure to adhere to a country's rule...etc.).

 

Did the share holders get a written guarantee when they bought, that the share price will not go down !!!!!!

Exactly the shareholders being played by smart lawyers. Its VEB that going to make money because they collect 10% ( I think its this amount) of what ever is settled. So Shareholders being very short sighted by punting pressure on the share due to class action claims. 

[Tom]

My gut feel is the courts may tell them to wait for the PwC report. No one can exactly say what happened. All there is so far is lots of negative press with many conspiracy theories and the possible three bucket theory from a CFO that did not know much!!! For me the only investors that have a right to claim something is the ones holding on to the share and only if it is found that the board of SNH was involved in illegal practises. In MTN case will the MTN investor now sue MTN or the Nigerian government for the fine?

 

If Steinhoff share holders can sue for their loss (based on ......... whatever they wana base it on), then I (personally) don't see any reason why not MTN share holders (and any other listed company) can also do so when their share price go down based on ........... (whatever they wana base it on, e.g. in case of MTN: management failure to adhere to Nigeria rules yet for a second time ...etc.).

 

Did the share holders get a written guarantee when they bought, that the share price will not go down !!!!!!

Edited by Tom, 26 September 2018 - 10:38 AM.

[Matrix]

Interesting creditors lenient with Jooste. They hedging some share recovery perhaps..... Has he dumped all his shares as yet or are these still held in trust... If anyone has shareholding register anytime within 2018..pls check this.


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I stand to be corrected, but Jooste was asked in parliament if his trusts still has shares.

His respons was that it was all sold as a forced sale, and neither him or his trusts has any SNH shares.

[DayTraderDad]

Interesting creditors lenient with Jooste. They hedging some share recovery perhaps..... Has he dumped all his shares as yet or are these still held in trust... If anyone has shareholding register anytime within 2018..pls check this.


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Look at the bond prices maybe telling a story!! https://www.boerse-b...in=XS1650590349

[DayTraderDad]

No, shareholders were deceived due to accounting irregularities. What you were told wasn't what you were sold. And relates to existing shareholders as well.

Think the court will allow it.

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My gut feel is the courts may tell them to wait for the PwC report. No one can exactly say what happened. All there is so far is lots of negative press with many conspiracy theories and the possible three bucket theory from a CFO that did not know much!!! For me the only investors that have a right to claim something is the ones holding on to the share and only if it is found that the board of SNH was involved in illegal practises. In MTN case will the MTN investor now sue MTN or the Nigerian government for the fine?

[Investment novice]

Sorry meant to say has all his shares been dumped by creditors.. Forced sale...

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[Investment novice]

Interesting creditors lenient with Jooste. They hedging some share recovery perhaps..... Has he dumped all his shares as yet or are these still held in trust... If anyone has shareholding register anytime within 2018..pls check this.


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[DayTraderDad]

Dad hekp thinking setting a sell ant guess highs..yesterday tries 2.78 no luck...dont want mess up...any idea ???? Pllllleeeezzzz

Haha still made my daily money yesterday as I already did this morning! and did some fishing yesterday sorry the market did not eat me up!!

[leo]

Just as an add on.. I bought 80000 shares of choppies at 40c this morning. The Zimbabwe issue Is a dampener on an extremely fragile jse. Price knocked well below its value. And definately an acquisition target now. Zimbabwe shareholding will be settled and even if written off does not result in a share valuation currently.
I see this share easy to R1. 60 with impairment and results missed by 30%
Footprint is significant.

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Possible punt. Was also scoping

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[Investment novice]

Just as an add on.. I bought 80000 shares of choppies at 40c this morning. The Zimbabwe issue Is a dampener on an extremely fragile jse. Price knocked well below its value. And definately an acquisition target now. Zimbabwe shareholding will be settled and even if written off does not result in a share valuation currently.
I see this share easy to R1. 60 with impairment and results missed by 30%
Footprint is significant.

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[leo]

Ok. That was mean. Sorry

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Edited by leo, 26 September 2018 - 09:57 AM.

[Ms Jet]

Dad hekp thinking setting a sell ant guess highs..yesterday tries 2.78 no luck...dont want mess up...any idea ???? Pllllleeeezzzz

[Ms Jet]

Dad hekp thinking setting a sell ant guess highs..yesterday tries 2.78 no luck...dont want mess up...any idea ???? Pllllleeeezzzz

[leo]

Yes fasten your seat belts going to be a bumpy ride. Still having difficulty understanding why the courts should support the VEB claim because the reason share price fell is investors dumped the share now they want to be compensated for the dumping!!!

No, shareholders were deceived due to accounting irregularities. What you were told wasn't what you were sold. And relates to existing shareholders as well.

Think the court will allow it.

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[DayTraderDad]

Bids and asks are massively far appart thus far...going to be a bumpy road.

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Yes fasten your seat belts going to be a bumpy ride. Still having difficulty understanding why the courts should support the VEB claim because the reason share price fell is investors dumped the share now they want to be compensated for the dumping!!!

[Ms Jet]

No one knows time for veb parli today?

[Motivated]

Easy E is not a registered broker with JSE. You buying and selling spreads similar to bucket shop operation.

 

Best broker to use is PSG

Hi Polly, 

 

Thank you for the advice.    Sorry for the late reply, was in the air....

 

Kind Regards, 

Melissa