To be honest, as I do not invest directly in specific companies, I don't follow them and am usually unaware of who is doing what. If it's no bother can you let me know what that class action is about.
Also the point I was tying to make in a very clumsy way is if it is alleged a company is fudging the books in some way, it should be shown where the company isn't complying with the required accounting standards to which I provided that link. Expressing an opinion the company isn't playing the game properly according a person's view of the world doesn't show that. Hope I am making some sense there.
As an aside, it's funny (almost) when I hear outrage about companies underpaying staff. I have done audits on payrolls and most of the errors are the result of a combination of a multitude of awards together with the lack of on-going training. None were intentional really.
A bit busy but will try to send you links to the few class actions I am involved in just as a share holder.
None were triggered by me
, just better informed groups using a no win no pay legal firm and nailing all Ord companies for knowingly misleading shareholders.
In a keep the bastards honest principle, I always participate if given the opportunities.
There is hardly any $ benefit for a small holder, and it takes a lot of effort retrieving trades 10y old in some cases..but I do.
It is IMHO a duty.
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All that to say that doing FA is a very tricky game as you base your work on potentially corrupt and misleading data.
I would even argue that the bigger the company, the more hidden and specialised these fraudulent reports are.
Lastly a real world mining example where no figure is falsified, no fraud whatsoever legally done but shareholders are wronged, and Australian taxpayers/Australia too..but than is another story
Existing operational coal mine, accurate and real reserves.
The management decides to have a great quarter( maybe someone want a boost before retiring)0 and extracts the rich 5m seam bulldozing thru the 1m seam located above .
1/6 of existing coal dumped and wasted to suddenly have an amazing first quarter 20xx of productivity and record outputs
The reserves were true and accurate (difficult enough) the overall mine output will be significantly lower..when computed in xxx years if ever, same method frequently done with gold copper mines etc..very easily twisted outcomes.
So yes FA on quarterly or annual reports ..hum..I would look at the history, board people, whatever change and then throw my guess dice.