27.03 2014

POWERFUL INSIGHTS INTO SHAREHOLDER CLASS ACTION DEFENCE STRATEGIES DELIVERED BY GRT LAWYERS AT THE AICD DIRECTORS BRIEFING

GRT Lawyers Managing Director, Glenn Vassallo and Special Counsel, Tracey Miley last night lead a passionate discussion at the Australian Institute of Company Directors (AICD) Directors Briefing on the need for listed (and unlisted companies) to develop and implement ‘Successful Shareholder Class Action Defence Strategies’.

 

Developing a Shareholder Class Action Defence Strategy requires a detailed understanding of the full extent of the rights, duties and obligations flowing between a company, its directors and shareholders. Capturing and preserving evidence of corporate practices and key corporate events as they occur will position a company for tactical advantage.

 

When it comes to implementation of the strategy it is important to be able to focus on those factors which will not only undermine the legal basis of the cause of action, but also attack the key drivers of the plaintiff law firms and litigation funders. Reducing the value of the claim and number of claimants; casting doubt over the capacity of the company to meet a judgment or a reasonable settlement; and severing any possible causal connection between losses suffered and the relevant breach will impact the economics of running the case.

 

The consistent message delivered at the Directors Briefing was that a tailored, well developed defence strategy requires action now, and well before the first sign of a class action. Early intervention, regular communication and stakeholder engagement will allow a company to manage the risk and diffuse or defend a class action if one arises.

 

If you would like to discuss developing a Shareholder Class Action Defence Strategy or would like further information regarding the AICD Presentation on 26 March 2014, please contact Glenn Vassallo (gv@grtlawyers.com or +61 7 3309 7001) or Tracey Miley (tracey.miley@grtlawyers.com or +61 7 309 7022).


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