Schlaepfer v ASIC [2019] NSWSC 1644

Supreme Court New South Wales

Medium Neutral Citation: Schlaepfer v ASIC [2019] NSWSC 1644 Hearing dates: 18-22, 25-29 March, 1-5, 8, 11 April 2019 Date of orders: 26 November 2019 Decision date: 26 November 2019 Jurisdiction: Common Law Before: Fagan J Decision: Judgment for the defendants Catchwords: DEFAMATION – where oral communications made by officer of financial regulator to stockbrokers – whether communications conveyed defamatory imputations – where communications expressed regulator's concern regarding possible manipulation of Australian stock market – whether plaintiffs identified by the communications

DEFAMATION – defences – justification – common law qualified privilege defence established – defence of statutory qualified privilege established

TORT – injurious falsehood – elements – malice not proved Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) Corporations Act 2001 (Cth) Defamation Act 2005 (NSW) Defamation Act 1974 (NSW) (repealed) Cases Cited: Amalgamated Television Services Pty Ltd v Marsden (1998) 43 NSWLR 158; [1998] NSWSC 4 AMI Australia Holdings Pty Ltd v Fairfax Media Publications Pty Ltd [2010] NSWSC 1395 Austin v Mirror Newspapers Ltd (1985) 3 NSWLR 354 Bashford v Information Australia (Newsletters) Pty Ltd (2004) 218 CLR 366; [2004] HCA 5 Bellino v Australian Broadcasting Corporation (1996) 185 CLR 183; [1996] HCA 47 Cush v Dillon; Boland v Dillon (2011) 243 CLR 298; [2011] HCA 30 Fairfax Media Publications Pty Ltd v Pedavoli [2015] NSWCA 237 Palmer-Bruyn and Parker Pty Ltd v Parsons (2001) 208 CLR 388; [2001] HCA 69 Papaconstuntinos v Holmes a Court [2012] HCA 53 Prince v Malouf [2014] NSWCA 12 Ratcliffe v Evans [1892] 2 QB 524 Triggell v Pheeney (1951) 82 CLR 497; [1951] HCA 23 Waterhouse v Broadcasting Station 2GB Pty Ltd (1985) 1 NSWLR 58 Category: Principal judgment Parties: Daniel Schlaepfer (first plaintiff) Select Vantage Incorporated (second plaintiff)