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Telstra to shut down sites amid ACCC concerns about Optus 5G rollout
Competition & Consumer Protection 2022-08-03 11:11 pm By Cat Fredenburgh

Telstra has agreed to deregister 162 radiocommunications sites after the ACCC expressed concerns the acquisition could stymie competition by hampering the rollout of Optus’ 5G network.

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Lawyer sues over articles on dropped David Jones fraud charges
Defamation 2022-08-03 11:07 pm By Sam Matthews

A Sydney lawyer has sued the owners of three websites which allegedly published defamatory articles accusing her of trying to defraud $16,000 from David Jones, claiming her employment prospects have been damaged.

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Mazda’s conduct not just ‘appalling customer service’ but unconscionable, ACCC says
Competition & Consumer Protection 2022-08-02 11:37 pm By Christine Caulfield

A judge was wrong to find that Mazda’s treatment of customers with faulty vehicles was appalling but not unconscionable, and nowhere in his ruling is there an explanation for the distinction, the consumer regulator has told an appeals court.

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ASIC won’t enforce $7.2M penalty against Dixon Advisory
Financial Services 2022-08-02 11:49 pm By Sam Matthews

The Australian Securities and Investments Commission will not seek to enforce a $7.2 million penalty agreed to by Dixon Advisory after admitting to the regulator’s allegations that it failed to act in its clients’ best interests.

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IAG hit with shareholder class action over COVID-19 risk disclosures
Class Actions 2022-08-01 11:40 pm By Christine Caulfield

Insurance Australia Group faces a class action by shareholders over its disclosures connected to the impact of COVID-19 claims by policyholders.

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Slater & Gordon wins beauty parade, group costs order in Beach Energy class action
Class Actions 2022-08-01 2:28 pm By Cindy Cameronne

Slater & Gordon has defeated Shine Lawyers in a contest to run a shareholder class action against Beach Energy, with a judge finding Shine’s tiered contingency fee arrangement was “mere window dressing”.

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Bell Potter defeats $10M lawsuit over 1 minute trading call
Corporate 2022-08-01 3:32 pm By Cindy Cameronne

Bell Potter has defeated a lawsuit by Nicholas Bolton’s Keybridge Capital over a 2015 phone call which lasted one minute and 18 seconds in which the investment firm was accused of committing its client to buy $10 million worth of shares in defunct Molopo Energy.

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Chubb falls short in $2.3M dispute over coverage for Inchcape ransomware attack
Privacy & Cybersecurity 2022-08-01 5:53 pm By Cindy Cameronne

A judge who lashed “unsatisfactory cooperation” between Chubb and British automotive distributor Inchcape has found the insurer’s policy covers some but not all costs stemming from a cyber attack which allegedly caused over $4 million in loss.

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Big Un auditor convicted of failing to comply with auditing standards
Accounting 2022-08-01 11:08 pm By Cat Fredenburgh

The lead auditor for Big Un’s flawed 2017 independent audit, which overstated the failed video company’s cash and cash equivalents by $8.2 million, has been convicted of failing to comply with auditing standards following an investigation by ASIC.

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ASIC says judge should not wait on High Court in case against payday lenders
Financial Services 2022-07-29 11:18 pm By Christine Caulfield

The corporate regulator will challenge a bid by payday lenders Cigno and BHF to stay its case pending their appeal to the High Court.

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