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- Title
THE CASE FOR MARKET-BASED CAUSATION.
- Authors
Watson, Andrew; Varghese, Jacob
- Abstract
The article discusses the market-based causation of class actions in Australia. Accordingly, the plaintiff shareholders are required to prove that defendants took a course of actions that result to a loss based on the alleged misconduct in the company. However, the plaintiff argued that causation can be an issue common to all members of the class when the actions caused the market as a whole to inflate the prices of the traded securities. Furthermore, the arguments of market-based causation involves the application of the existing legal principle and the subjective application of Efficient Market Hypothesis (EMH).
- Subjects
AUSTRALIA; CAUSATION (Philosophy); CLASS actions; STOCKHOLDERS; LOST profits damages; PRICES of securities; EFFICIENT market theory; MISCONDUCT in public office; PRICE increases; ACTIONS &; defenses (Law)
- Publication
University of New South Wales Law Journal, 2009, Vol 32, Issue 3, p948
- ISSN
0313-0096
- Publication type
Article