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ClearLoans agrees to $6M penalty in ASIC’s first COVID-19 case against lender
Financial Services 2023-02-02 3:19 pm By Sam Matthews

Personal lender ClearLoans and its parent company have agreed to pay penalties of just over $6 million to settle the first COVID-19 related case brought by the Australian Securities and Investments Commission.

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Google defeats ACCC case over data collection
Competition & Consumer Protection 2022-12-09 3:01 pm By Cindy Cameronne

The ACCC has lost proceedings accusing Google of duping millions of Australians into agreeing to expand the scope of personal information the tech giant could collect and combine for use in targeted advertising. 

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Oil spill class action funder drops injunction bid against barrister
Class Actions 2022-12-05 8:33 pm By Christine Caulfield

A litigation funder has abandoned its case seeking to prevent counsel retained by the lead applicant in the settled Montara oil spill class action from providing independent legal advice.

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Corelogic again seeks to block copyright case over data scraping
Intellectual Property 2022-12-02 1:24 pm By Sam Matthews

Property data analytics firm CoreLogic is taking aim again at a lawsuit accusing it of unauthorised scraping of confidential information from building information provider BCI Media’s copyright-protected leads platform, months after a judge found the case was “defective and deficient”.

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CBA’s former boss Ian Narev grilled over internal audits 4 years before AUSTRAC action
Class Actions 2022-11-14 10:02 pm By Christine Caulfield

The former chief executive of Commonwealth Bank has told a court internal auditors raised issues with CBA’s anti-money laundering and counter-terrorism financing compliance four years before AUSTRAC took action that saw the bank’s share price plummet.

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CBA says disclosing money laundering failures would have misled the market
Trials 2022-11-09 9:16 pm By Cindy Cameronne

The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank takes the rare move of defending a shareholder class action at trial.

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Trial pokes holes in CBA’s claim of ‘cordial’ relationship with AUSTRAC
Trials 2022-11-08 10:04 pm By Cindy Cameronne

While CBA’s defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.

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‘Law breaking on a grand scale:’ CBA’s money laundering failures on trial
Class Actions 2022-11-07 11:22 pm By Cindy Cameronne

The Commonwealth Bank of Australia knew about a “catastrophic” code error that caused widespread non-compliance with money laundering rules two years before it was disclosed to the market, a court has been told in a rare shareholder class action trial.

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PTTEP’s appeal of class action ruling delayed as lawyers, funder engage in secret stoush
Class Actions 2022-10-11 11:45 pm By Christine Caulfield

PTTEP Australia’s appeal of a class action finding that it breached a duty of care to thousands of farmers impacted by the 2009 Montara oil spill has been put on hold amid a fight between the funder and lawyers that is cloaked in confidentiality.

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Full Court upholds validity of Pfizer’s Dynastat patent
Intellectual Property 2022-09-30 4:58 pm By Cindy Cameronne

A judge has thrown out competing appeals of a decision finding Pfizer’s patent for its post-operative injectable painkiller Dynastat is valid and that Australian drug maker Juno Pharmaceuticals infringed the patent by selling generic versions of the drug in Australia.

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