By Dorothy Murray, Natalie Caton , Richard Wigley , Shamilee Arora, Jane Menzies  King & Wood Mallesons

Much has been written in recent years about the scope and costs of regulatory investigations and the powers of regulators. A company implicated in, for example, a corruption issue can expect to spend huge sums on investigations, fines, implementing corrective measures and improving its compliance structures and culture.

In high-profile cases, however, this may just be the beginning of a much longer (and more expensive) story. The inevitable fall in share price caused by even a report of improper behaviour, wherever that is in the world, let alone a finding of wrongdoing, creates a whole class of potential claimants: out of pocket shareholders and holders of other instruments.

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