COVID-19 Australia – Predicting securities class action trends following the COVID-19 crisis
Market Insight 26 June 2020 26 June 2020
The global health pandemic brought on by COVID-19 has devastated economies around the world.
In this paper, we considered the trends for securities class actions in the next 6 to 18 months as Australia emerges from its COVID-19 lockdown.
We examine the likely impact of the recent reforms to the continuous disclosure rules. We also look to securities class actions currently filed in the USA, and historically filed in Australia after the Global Financial Crisis and analyse whether these cases provide guidance in determining the future trends.
Finally we review the recent developments in class action procedure, such as common fund orders and the fallout from the recent settlement of the Myer claim and consider how these changes to how might affect future securities class actions.