Misleading Conduct, Reliance and Market-Based Causation

Recent Australian decisions have opened the door to possibility of liability premised on a ‘market-based’ theory causation. This article is concerned explore this emerging category claims, particularly when founded upon an allegation misleading or deceptive conduct. Specifically, examine nature market-based causation and consider role that ‘reliance’ has in case based article’s core contention enquiry into factual been unhelpfully merged with scope cases involving unfortunate mix-up led misunderstanding reliance argues that, causation, concept not always relevant enquiry. Instead, (or absence reliance) best viewed as normative issue going defendant’s liability.