Lawyers don't really care, they get their fees daresay in a...

Lawyers don't really care, they get their fees daresay in a situation like this up-front. Shareholders involved in the class action, definite benefits for them. So I'd say there is vested interest for some. There was a landmark case with Aristocrat also organised by IMF and relating to lack of disclosure rules. Personally I'm all for companies being made accountable, been able to get away with lack of disclosure for far too long.

Whether this case will be defended successfully is another matter, but we should be under no pretense that this couldn't be damaging to Centro's attempts to climb back from its current situation.

This article is fairly old but I think it is quite accurate on where litigation against companies is heading:

http://www.sparke.com.au/sparke/news/publications/the_rise_of_corporate_class_actions_in_australia.jsp