In August 2006, ABC Learning pleaded guilty to 'Failing to Enclose' in the Fremantle Magistrates Court and were fined $1300. A three-year-old boy escaped from the centre in Lynwood in Western Australia, through a broken fence and was found by staff in a nearby car park. The company was under investigation by the Australian Securities and Investments Commission. ABC was once the largest publicly listed child-care operator in the world. It had a market capitalisation of $4.1 billion. When its shares were suspended from trading at 54c, the company's worth was $296 million. An unexpected drop of 42 per cent in profit in the second half of 2007 to $37.1 million and its inability to service its $1.8 billion debt triggered a decline in the company's share price. Several directors of the company were then forced to dump millions of shares after receiving margin calls. The combined effects caused the share price to plummet 43% to $2.15 after trading as low as $1.15. By the end of the selling, founder Edmund/Eddy Groves and his wife sold virtually all of their stakes of 20 million and 6 million shares respectively while director Martin Kemp unloaded 2.7 million shares. The combined Groves' stake represented 8 per cent of the company. Trading in ABC Learning shares was suspended in August 2008 after the company failed to release its earnings for the 2007-08 financial year. Despite selling off assets, the company fell into receivership in November 2008 after increasing debt servicing obligations and its auditors were unable to sign off on its accounts. The federal government injected $22 million into the company to keep its childcare centres open until the end of 2008. The company was subsequently delisted from the S&P/ASX 200. Creditors voted to wind up the company in June 2010. 570 ABC Learning centres were taken over by Goodstart, a consortium of Mission Australia, the Benevolent Society, the Brotherhood of St Laurence and Social Ventures Australia.