Westpac has been ordered to pay $3 million after two subsidiaries admitted misleading hundreds of superannuation customers about the financial adviser fees they were charged, a penalty that took into account the Big Four bank’s massive profits.
The ACCC’s claim that NSW Ports stymied competition when it signed a 50-year agreement with the state to be compensated if the Port of Newcastle built a container terminal was based on “mere speculative hopes”, a judge found in tossing the competition watchdog’s regulatory action.
A Sydney law firm that brought a class action against Boston Scientific over allegedly defective pelvic mesh products has agreed to stay its case while a class action by Shine Lawyers moves ahead.
Six of the world’s largest car makers have agreed to settle class actions accusing them of selling cars with deadly Takata airbags.
ASIC is seeking $1.5 million in penalties against insurers Allianz and AWP after they admitted to misleading or deceiving the public by selling travel insurance to ineligible customers through three Expedia-owned websites.
Japanese oil company Inpex has sued Dutch paint manufacturer AkzoNobel for allegedly making misleading statements about an epoxy coating it supplied for use in the Ichthys Liquefied Natural Gas project in Bladin Point, Darwin.
Despite a judge’s urging for the parties to arrive at a “pragmatic solution”, the lawyers behind competing pelvic mesh class actions against Boston Scientific will duke it out for carriage of the proceedings.
The ACCC has lost its regulatory action against NSW Ports alleging a 50-year agreement with the state, signed when Port Botany and Port Kembla were privatised in 2013, was anti-competitive.
Volkswagen has asked the High Court to throw out a a landmark $125 million penalty over its emissions cheating scandal, the highest ever handed down in Australia for consumer law violations.
The liquidators of Forge Group have won court approval to expand their insider trading case against construction company Clough over the $187 million sale of its stake in the failed engineering and construction firm.