Complaints lodged on potentially false and misleading statements by Santos

COURT OR TRIBUNAL

Other

DATE FILED (OR FIRST HEARING DATE)

15/12/2022

LITIGATION TYPE

Corporate Accountability

SUBJECT MATTER

Misleading and deceptive conduct

REVIEW TYPE

N/A

SUMMARY

The Environment Centre Northern Territory launched formal complaints with ASIC and the ASX over potentially misleading or deceptive conduct by Santos Ltd in an ASX Announcement about Santos NA Barossa Pty Ltd v Tipakalippa [2022] FCAFC 193. The announcement said that “Santos does not anticipate any material cost or schedule impact” to the Barossa Project as a result of the Full Court's decision. Represented by the Environmental Defenders Office, the ECNT argues that the representation may constitute misleading or deceptive conduct, and therefore contravene s 1041H of the Corporations Act 2001 (Cth), s 12DA of the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act), and/or s 18 of the Australian Consumer Law (ACL) (Schedule 2 of the Competition and Consumer Act 2010 (Cth)).

CASE DOCUMENTS

Letter of complaint to ASIC
Letter of complaint to ASX