Caason Investments Pty Ltd v Cao [2015] FCAFC 94

Counsel | David Rayment

PRACTICE AND PROCEDURE – application for leave to appeal - application for leave to amend pleading - representative proceeding under Federal Court of Australia Act 1976 (Cth) Pt IVA – claim for compensation for loss or damage resulting from misstatement in, or omission from, disclosure document under Corporations Act 2001 (Cth) s 729 - claims of misleading or deceptive conduct - causation – market-based causation – whether primary judge erred in rejecting proposed amendments to reflect market-based causation case – whether the market-based causation case is a viable one in the context of the claim under s 729 - whether reliance is a necessary element under s 729 - leave to appeal granted – appeal allowed.

Corporations Act 2001 (Cth) ss 728729(1), 729(2), 1041H
Australian Securities and Investments Commission Act 2001(Cth) s 12DA 
Corporate Law Economic Reform Program Bill 1998 (Cth)
Fair Trading Act 1999 (Vic) s 9
Federal Court of Australia Act 1976 (Cth) s 31APt IVAs 37M(3)
Federal Court Rules 2011 (Cth) rr 8.21, 16.21, 16.55