Below is the first part of an article by Jared Lynch from smh.com.au. It reads…
Maurice Blackburn has dismissed the chief of Treasury Wine Estates’ criticism about shareholder class actions as a ”glass-jaw reaction”.
Treasury Wine chief executive Warwick Every-Burns told BusinessDay last week litigation funds and their law-firm partners were usurping the role of regulatory authorities in their pursuit of boards, while companies could shy away from growth plans for fear of being slapped with a shareholder class action lawsuit.
But law firm Maurice Blackburn managing principal Ben Slade said Mr Every-Burns had missed the point.
”If directors and corporations fulfil their proper duties and comply with the Corporations Act they will have nothing to fear from a robust class actions regime,” Mr Slade said.
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