The Australian Securities and Investments Commission has filed civil penalty proceedings against the Commonwealth Bank of Australia for allegedly saddling consumers with $2.9 million in inflated interest rates on their business overdraft accounts on more than 12,000 occasions.
An Australian concrete product maker has settled a lawsuit brought by US industrial equipment manufacturer Illinois Tool Works over its patents for precast concrete products.
A $50 million settlement has been reached in a long-running shareholder class action against defunct vocational training company Vocation that also spawned multiple cross-claims against the failed company’s auditor PricewaterhouseCoopers, law firm Johnson Winter & Slattery and individual directors.
Google is seeking to assuage ACCC concerns that its planned $3 billion acquisition of fitness device company Fitbit would further entrench its market power by giving it access to a treasure trove of user data, promising the regulator that it will not use data collected through wearables for advertising purposes for at least 10 years.
Logistics services provider Qube has resolved a lawsuit that accused the Port of Newcastle of misusing its power in the market for port services by denying Qube’s request to use its own equipment to provide dry bulk unloading services at the port.
PricewaterhouseCoopers is seeking to strike out a lawsuit brought by a former director who claims her notice of termination was invalid because it was delivered through DocuSign.
A court has found that insurer Youi breached its duty of utmost good faith by taking two years to settle a home owner’s hail storm claim.
A judge has indicated she will approve GetSwift’s plans to relocate to Canada, despite concerns raised by ASIC, but will wait until the company has received approval from the Foreign Investment Review Board.
A judge has lashed out at the legal team behind a class action against S&P over allegedly misleading credit ratings for filing hearsay evidence in support of an application to serve the ratings giant overseas, saying that “nobody who is a first year law student” would say the evidence was admissible.
The Federal Court has thrown out a lawsuit brought against the University of Sydney by a former political economy lecturer who was fired for a seminar slide that imposed the Nazi swastika on the Israeli flag.