Class actions have increasingly become a challenge and risk for business in Australia. Australia is now the most common jurisdiction, after the United States of America, in which a corporation will find itself defending a class action. Against this background, class action regimes have been established in various Australian jurisdictions and courts are removing historical obstacles to funding litigation so that litigation funding arrangements are easier to obtain for litigants in class actions.
Holding Redlich has substantial relevant experience in handling complex multi-party litigation and expertise in the areas in which shareholder class actions tend to arise, including claims of misleading or deceptive conduct relating to prospectuses and other company documents, breaches of continuous disclosure requirements and breaches of duties by directors and officers. We assist clients to identify and manage class action risk, devise strategies to effectively deal with class actions if they arise, and manage associated regulatory issues, including investigations and enforcement actions by regulators such as the ACCC and the ASIC.
We have a thorough understanding of class action regimes across various jurisdictions, and the strategic, practical and legal issues which arise in class action proceedings. Our partners have presented extensively on legal developments in class actions at industry and legal conferences.