Topic: Class actions

A class action, is a type of lawsuit where one of the parties is a group of people who are represented collectively by a member of the group.


Curly Worley: Earnings guidance, continuous disclosure and unformed opinions

A recent Federal Court appeal ruling in a class action by shareholders against Australian engineering firm Worley has implications for boards.

New director tool - D&O insurance for non-executive directors

Directors’ and officers’ liability insurance (D&O insurance) is designed to protect directors and personnel involved in the management of a company from claims arising from decisions and actions taken...

Important continuous disclosure reform, virtual AGM relief

New laws passed by the Senate this week extend temporary relief for virtual AGMs and electronic documents to early 2022, and make welcome changes to continuous disclosure breach provisions.

AICD progress on proxy advice, class action risk reforms

The AICD is backing efforts to consolidate global reporting frameworks on sustainability and environment issues. The AICD has supported the establishment of a new International Sustainability Standard...

Continuous disclosure reforms to be made permanent and other COVID-19 relief extended – what directo...

In welcome news, the Treasurer has announced his intention to legislate permanent reform to continuous disclosure laws and extend relief for virtual AGMs and electronic communications until 15 Septemb...

Resetting an effective risk culture

With the experiences of 2020 and the COVID-19 pandemic affecting companies' high-level thinking, businesses are revisiting their risk profiles and risk appetite statements and there’s been a not...

AICD welcomes permanent changes to Australia’s continuous disclosure laws

The Australian Institute of Company Directors (AICD) has welcomed the Government’s announcement today that there will be permanent changes to Australia’s continuous disclosure laws.

Why the Worley court action is a landmark case for boards

A recent landmark court decision on class actions is being interpreted as a signal to boards and directors that they may successfully defend class actions if they can show they took reasonable steps t...

Inquiry into the regulation of the class actions regime

On 11 June 2020, the AICD made a submission to the Parliamentary Joint Committee on Corporations and Financial Services’ Inquiry into the regulation of the class actions regime.

Time to close the class action paradise

The government has rightly eased some demands of the continuous disclosure rules. A more balanced system is needed once the virus emergency passes.
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