Commonwealth Bank of Australia (CBA) notes the judgment delivered [on Wednesday 7 May 2025] by the Full Court of the Federal Court of Australia in the appeals from the Zonia and Baron shareholder class actions.
The Full Court concluded that the primary judge’s orders dismissing the class actions remain unchanged. While the Full Court has found certain contraventions of the continuous disclosure regime in April 2017, and allowed the appeals in part, the appellants did not prove any loss and there is no award of damages.
CBA continues to consider the judgment. The parties are to consider consequential orders to give effect to the Full Court’s judgment.
CBA announced the commencement of the appeals on 25 June 2024.
