Class actions in Australia have seen steady growth since the
2012 hearing of Wingecarribee Shire Council v Lehman Brothers
Australia Ltd (in Liq) [2012] FCA 1028. In this case, three
councils brought proceedings on behalf of 72 other councils,
charities, churches and not for profit groups, who collectively
lost over $200 million from the collapse of Lehman Brothers.
Historically, more than half of all class actions in Australia
have been brought by shareholders, generally against listed
companies. Claims usually arise out of alleged misleading
information from the companies to the market which directly affects
the value of group members' shareholding.
Recently, however, we have seen a shift toward more class
actions relating to general commercial disputes.
