Shareholder (or securities) class actions are now an established part of the Australian legal landscape.
Updated february 2017
The first shareholder class action in Australia was commenced in 1999. Since that time, at least 30 shareholder class actions have been commenced, but only four have proceeded to trial and none have proceeded to final judgment. Most claims have settled in the lead-up to trial as both parties weigh up the uncertainties and risks associated with a judgment (and the costs of trial).
This paper outlines some of the key issues and trends in Australian shareholder class actions.