We can only assume that the major investors are happy with the decline in the company's fortune. However could the small investors (including staff shareholders) have a case against the institutional investors?
An interesting read,
Billabong faces investor class action | News.com.au
TROUBLED surfwear retailer Billabong faces a possible class action from investors hurt by the dramatic decline in the company's fortunes.
Law firm Slater and Gordon says it is preparing a lawsuit against Billabong on behalf of hundreds of Australian and international investors.
The class action centres on Billabong's earnings guidance downgrade in December 2011, which caused a sharp decline in its share price.