Competition & Consumer Protection

ANZ is set to acquire Queensland bank Suncorp, with treasurer Jim Chalmers signing off on the deal after the ACCC failed to block the $4.9 billion merger on competition grounds.

Sydney-based plastic surgeon Daniel Lanzer and several of his associates have objected to a class action’s eighth attempt at getting its claims over allegedly negligent cosmetic procedures right, saying the plaintiffs were engaged in a “continuing cycle of propagating versions” of their case.

Five years after it was first hit with a competition case by Dialogue Consulting, Meta has filed a cross-claim against the Melbourne social media company, alleging it collects and stores Instagram user login credentials and instructs clients to provide inaccurate information to the platform.

Epic Games has taken aim at Google for the “untruthful evidence” of its witnesses in the game maker’s competition case against the tech giant, as well as its failure to call senior executives to the stand to defend itself. 

Video game maker Epic Games has attacked as “entirely contrived” the defence by Apple in closing submissions in a Federal Court trial of its landmark competition case, pointing to the tech giant’s lack of evidence, including from CEO Tim Cook.

Convenience store chain On The Run has filed proceedings against public relations firm the Civic Partnership, claiming it is liable for misleading or deceptive conduct after an employee allegedly created a campaign aimed to damage the business for an unknown client. 

The federal government has backed suggestions for changes to the Food and Grocery Code that would slap major grocery stores with fines of up to $10 million for violating the code, amid concerns over rising food prices.

The ACCC has raised concerns that Singaporean agricultural giant Olam Agri Holding’s bid to acquire ASX-traded cotton ginner Namoi Cotton could reduce competition and stick cotton farmers with higher prices, one month after flagging similar concerns with Louis Dreyfus’ competing takeover proposal. 

Mexican fast food giant Zambrero has settled misleading and deceptive conduct claims brought against ex-CEO Stuart Cook, who has agreed to refrain from representing that he is “primarily responsible” for the chain’s success. 

The ACCC has flagged competition concerns about drug supplier Sigma Healthcare’s proposed $8.8 billion reverse merger with Chemist Warehouse, saying the tie-up could harm independent pharmacies and lessen competition in pharmacy retail.