THE move by four legal firms to file class-action suits against Nasdaq-listed MOL Global Inc is a clear example that a combination of shareholder activism with assistance from legal vultures is a potent combination to take to task companies that perform below expectations.
It has been reported that the firms have filed the suits in the US District Court seeking to recover losses that shareholders suffered post MOL’s listing. The stock was last trading at US$3.95, a far cry from the initial public offering (IPO) listing price of US$12.50 in November.