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Westpac faces $100M penalty in six ASIC cases over ‘widespread failures’
Banking giant Westpac has admitted to allegations in six new cases by the Australian Securities and Investments Commission alleging widespread compliance failures across multiple businesses, and will agree to pay a combined $100 million penalty.
Apple denies app store monopoly, says blocking Fortnite didn’t harm Epic Games’ business
Apple has rejected claims that it misused its market power by pulling Epic Games' popular Fortnite game from its App Store and says the move did not affect the game developer's business because most of its revenue comes from other platforms.
Courtenay House former director duped hundreds in $196M Ponzi scheme, ASIC says
The former director of investment management fund Courtenay House is facing a slew of criminal charges after an investigation by the Australian Securities and Investments Commission allegedly revealed he duped 590 investors in a $196 million Ponzi scheme.
Law firm preparing class actions against Apple, Google
Apple and Google's legal woes in Australia are set to worsen, with a leading class action firm preparing to file class actions against the Silicon Valley giants for alleged competition and consumer law violations.
Mitsubishi hit with class action over ‘misleading’ fuel economy labels
Japanese car maker Mitsubishi Motors has been hit with a class action for allegedly making misleading fuel efficiency representations on over 70,000 Triton Utes sold in Australia since 2015.
Singer Katy Perry accused of trying to ‘snuff out’ Aussie fashion designer
US pop star Katy Perry has been accused of using her “financial might” to “snuff out” the small business of an Australian fashion designer, as trial kicked off in a long-running intellectual property dispute over the rights to use the Katy Perry trade mark in Australia.
Google tells court consumer law doesn’t help users who don’t help themselves
Google has hit back at the ACCC’s case accusing it of misleading users about a change to its privacy policy, saying laws against misleading and deceptive conduct do not apply to those who did not read the notification about the change.
HWL Ebsworth found negligent, but avoids $424,000 damages bill by ex-client
Law firm HWL Ebsworth has dodged a $424,000 damages claim by a Brisbane property developer, despite a judge finding the law firm was negligent in failing to properly follow its client's instructions on a contract of sale for large block of units.
Judge approves $750,000 penalty against La Trobe Financial despite ‘considerable hesitation’
La Trobe Financial Asset Management will pay just $750,000 for misleading investors in its 48 hour and 90 day notice accounts over a period of more than three years, with a judge saying the company would have faced a penalty "well in excess" of this amount if not for reassuring correspondence from ASIC during its investigation.
Social media companies will be forced to unmask trolls or face defamation suits
Twitter, Facebook and other social media companies may soon be required to reveal the identity of users who post defamatory comments on their platforms, or risk being sued for defamation.