Australia: Shareholders

The Full Federal Court's decision in Crowley v Worley Limited marks a pivotal shift in Australian securities class action law by endorsing market-based causation and lowering evidentiary thresholds for proving shareholder loss. This landmark ruling, combined with the earlier Brambles decision, fundamentally alters the risk landscape for ASX-listed companies and their insurers.

The Federal Court’s 500-page judgment in Australian Securities and Investments Commission v Bekier [2026] FCA 196 (ASIC v Star directors and officers) has attracted considerable attention for its corporate governance lessons and insights for directors and senior executives facing regulatory enforcement action and related shareholder claims

Class actions are an established form of litigation that have grown significantly in Australia over the two decades and have become the fastest growing species of litigation in Australia.