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Crypto exchange seeks to strike out majority of class action claim


Global Competition Review, 5/6/24

Sarah Ford KC, counsel to the proposed class representative, said today that Kennelly’s submission on the breach date rule is premised on what an individual claimant should have done, but what an individual does cannot be applied to a large class.

“This is also a reason why this application raises novel issues which are not suitable for strike-out, because what we're getting into here is a question about how these established concepts of mitigation and causation apply in the context of collective proceedings when one is seeking to quantify an aggregate award of damages in respect of an entire class,” she said.

“This is necessarily an area of developing jurisprudence, which is why one should not strike out at this stage,” she added.