Federal Court of Australia
Federal Court of Australia
Bonham as Trustee for the Aucham Super Fund v Iluka Resources Ltd [2022] FCA 71 File number: NSD 576 of 2018
Judgment of: JAGOT J
Date of judgment: 7 February 2022
Catchwords: REPRESENTATIVE PROCEEDINGS – shareholder class action – statutory compensation – respondent's guidance to market about future sales – whether respondent was aware of information meaning that its likely sales would be materially less than sales guidance – whether respondent failed to make disclosures of information – whether respondent made representations that were misleading or deceptive or without reasonable grounds – whether representative applicant suffered loss as result of alleged contraventions
Legislation: Australian Securities and Investments Commission Act 2001 (Cth) ss 12BB, 12DA Competition and Consumer Act 2010 (Cth) Sch 2, ss 4(1), 18 Corporations Act 2001 (Cth) ss 674, 769C(1), 1041E Evidence Act 1979 (Cth) s 79
Cases cited: Australian Competition and Consumer Commission v GlaxoSmithKline Consumer Healthcare Australia Pty Ltd [2019] FCA 676; (2019) 371 ALR 396 Australian Competition and Consumer Commission v TPG Internet Pty Ltd [2013] HCA 54; (2013) 250 CLR 640 Bishopsgate Insurance Australia Ltd (in liq) v Deloitte Hoskins & Sells [1999] 3 VR 863 Blatch v Archer (1774) 1 Cowp 63 at 65 Campbell v Backoffice Investments Pty Ltd [2009] HCA 25; (2009) 238 CLR 304 Crowley v Worley Limited [2020] FCA 1522 Dasreef Pty Limited v Hawchar [2011] HCA 21; (2011) 243 CLR 588 Forrest v Australian Securities and Investments Commission [2012] HCA 39; (2012) 247 CLR 486 Grant-Taylor v Babcock & Brown Limited (In Liquidation) [2015] FCA 149; (2015) 322 ALR 723 Grant-Taylor v Babcock & Brown Limited (In Liquidation) [2016] FCAFC 60; (2016) 245 FCR 402 Jubilee Mines NL v Riley [2009] WASCA 62; (2009) 40 WAR 299 Tamaya Resources Limited (in Liq) v Deloitte Touche Tohmatsu (a Firm), in the matter of Tamaya Resources Limited (in Liq) [2015] FCA 1098 TPT Patrol Pty Ltd as trustee for Amies Superannuation Fund v Myer Holdings Limited [2019] FCA 1747; (2019) 140 ACSR 38
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