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Baillie Gifford US Growth Trust plc BLGFF

Baillie Gifford US Growth Trust plc is a United Kingdom-based investment company. The Company’s investment objective is to produce long-term capital growth. The Company seeks to invest predominantly in listed and unlisted United States companies. The Company invests in holdings in listed securities and private companies up to a combined maximum of about 90 companies or funds, typically with 30 or more listed security holdings. The maximum amount which may be invested in companies not listed on a public market shall not exceed 50% of total assets (measured at the time of purchase). The maximum direct investment in any one company or fund is limited to 10%. The Company invests in various sectors, including information technology, consumer discretionary, communication services, industrials, healthcare, financials, real estate, materials, consumer staples, and net liquid assets. The Company’s alternative investment fund manager is Baillie Gifford & Co Limited.


PINL:BLGFF - Post by User

Comment by jsnfernleyon Nov 03, 2009 11:55pm
397 Views
Post# 16450526

RE: RE: FRAUD? - Class Action

RE: RE: FRAUD? - Class ActionFraud according to Wikipedia:

In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and is also a civil law violation. Many hoaxesare fraudulent, although those not made for personal gain are nottechnically frauds. Defrauding people of money is presumably the mostcommon type of fraud, but there have also been many fraudulent"discoveries" in art, archeaology, and science.

Someone committed fraud, it would appear. No one seemed to have gained from it. It does seem odd that someone with that level of experience would not expect the 43-101 author to not perform some level of data audit, which appears to be how this was caught.

I was hoping the initially reported higher grade intercepts would give us a higher resource grade than next door Armistace. The bonanza grades will probably be cut for the coming resource calculation as statistical anomalies.

Class action against the company still, or just the fraudster?!?!?
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