The ACCC has been accused of running a “experimental test case” that tries to fit the shares market within the scope of the Competition and Consumer Act with its criminal cartel case against Citigroup, Deutsche Bank and several prominent banking executives over a $2.5 billion ANZ share placement.
Collapsed NSW training company Australian Institute of Professional Education has been slugged with a $153 million penalty, the highest ever fine in a consumer law case, after the Federal Court found the school targeted vulnerable students through an “unconscionable” enrolment system.
Freight forwarding company Mondiale has dropped its court action against WiseTech Global alleging the logistics firm breached competition law by misusing its substantial market power.
JPMorgan Australia chairman Rob Priestley told Citigroup and Deutsche Bank executives not to “panic” about picking up a shortfall in the sale of ANZ shares, a court has heard in the ACCC’s criminal cartel case over a $2.5 billion ANZ share placement.
Apple has reached the end of the line in its attempts to move a competition dispute with Fortnite game maker Epic Games to California, with the High Court denying the tech company’s special leave application to appeal a judgment that found there were “strong reasons” for keeping the matter in Australia.
The Australian Competition and Consumer Commission has given the green light to pork processor JBS Australia to proceed with its proposed $175 million acquisition of a Singapore-owned pig farm and abattoir business, despite competition concerns raised by pig farmers.
A senior ACCC officer tried to dissuade ASIC from investigating alleged insider trading by JPMorgan because of fears it would “upset” the competition regulator’s criminal cartel case over a $2.5 billion ANZ share placement, a court has heard.
A senior ACCC officer was probed Tuesday on whether the competition regulator updated its guidelines for taking witness statements in July in response to criticism of investigators’ methods in the cartel probe over ANZ’s $2.5 billion share placement.
Mazda’s treatment of customers with defective vehicles was “appalling” and its statements about their entitlement to a refund were false or misleading, a judge has found in a partial win for the ACCC.
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.