Recent Cases

Cruickshank v Australian Securities and Investments Commission [2022] FCAFC 128 (05 August 2022) (Allsop CJ, Jackson and Anderson JJ)


Catchwords:


CORPORATIONS – appeal from the decision of the liability judgment and the orders and declarations made in the penalty judgment – continuous disclosure obligations pursuant to s 674(2A) of Corporations Act 2001 (Cth) – whether information not disclosed was material to relevant investors pursuant to s 677 – whether a reasonable person would expect the information, were it generally available, to have a material effect on the price or value of the Company’s shares for the purposes of s 674(2)(c)(ii) and s 677 of the Act – whether the relevant information satisfies the conditions in s 674(2)(b) and (c) of the Act – whether appellant contravened s 180 of the Act by failing to exercise care and diligence in causing or permitting the company to contravene s 674(2A) of the Act –disqualification order pursuant to s 206C of the Act – whether disqualification order was justified – appeal dismissed