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Analysis and Comment (6)

The Great Southern class action was one of numerous shareholder class actions to have taken place this year. The Great Southern class action was one of numerous shareholder class actions to have taken place this year. AAP

It’s about money, not morality: how to assess shareholder class actions

Shareholder class actions have become a prominent aspect of the Australian litigation landscape, with suits against blue chip Australian corporations such as Centro, NAB and Telstra. But what do shareholder…
A lack of questioning following a management or committee report would appear to be an important marker for boards. A lack of questioning following a management or committee report would appear to be an important marker for boards. AAP

Why the simple act of asking is every director’s responsibility

Boards of directors are, under most legal regimes, the ultimate decision-making body in corporations. Yet, as researchers, we know surprisingly little about what they do and how they operate. With a handful…
The Centro case shows there are significant differences between the liability and penalty stages of a trial. The Centro case shows there are significant differences between the liability and penalty stages of a trial. AAP

Did Centro’s directors really get off lightly?

The Federal Court ruling in the Centro Properties Group case in June has been viewed by many as significantly raising the legal bar in relation to Australian company directors' duty of care. Yet the penalties…
Although the Centro ruling applied to a listed company, directors of not-for-profits should take notice. Although the Centro ruling applied to a listed company, directors of not-for-profits should take notice. AAP

The lessons for not-for-profits in the Centro judgement

The flood of media coverage following the landmark Centro Properties Group findings has left directors from both the public and private sector concerned over an apparent increased level of expectation…
Centro Properties Group’s directors were found to have breached the Corporations Act. Centro Properties Group’s directors were found to have breached the Corporations Act. AAP

Will Centro’s mistakes prompt action across the board?

The Centro Properties Group ruling is one of the most significant judgments we have had in the areas of corporate law and corporate governance in a number of years. Federal Court Judge John Middleton ruled…
ASIC’s active involvement in litigating against company directors is unique. ASIC’s active involvement in litigating against company directors is unique.

Centro, Fortescue actions all part of a high stakes game for ASIC

The outcome of the corporate regulator’s pursuit of Centro Properties Group’s directors over alleged beaches of their duties will have far-reaching implications for corporate governance in Australia. Not…