By Elias Visontay
鈥淲e are committed to supporting the legal process in every way we can.鈥
Almost $170 million has been wiped off the value of G8 Education since the sexual abuse allegations surfaced on Tuesday. G8鈥檚 share price dropped another four per cent on Friday to 96垄, dipping below the dollar mark for the first time this year.
On Friday, Tanarra Capital, founded by investment banking heavyweight John Wylie and one of G8鈥檚 largest investors, became the latest to sharpen their scrutiny of the company. Tanarra has close to a 12 per cent stake in G8, according to the childcare provider鈥檚 most recent annual report.
鈥淟ike the rest of the community we have been shocked and distressed at what has unfolded,鈥 a spokesperson told this masthead.