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Judge questions ‘independent skill and judgment’ in third class action against IC Markets
Class Actions 2024-05-03 3:54 pm By Sam Matthews

A judge has questioned the “independent skill and judgment” applied to the pleading in a third class action filed against International Capital Markets over risky derivative products, amid a “hot contest as to carriage and forum”.

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Retail Food Group to pay nothing to settle Michel’s Patisserie class action
Class Actions 2024-05-02 5:00 pm By Cat Fredenburgh

The law firm and funder that ran a class action against Retail Food Group on behalf of current and former franchisees of its Michel’s Patisserie chain will be out of pocket, after the company agreed to a settlement under which it will pay nothing.

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ASIC takes Magnis Energy, chair to court over battery plant disclosures
Securities 2024-04-30 3:59 pm By Andy Sidler

ASIC has brought proceedings against renewables company Magnis Energy Technologies and its executive chairman for allegedly misleading the market about the capabilities and funding for the company’s “flagship” battery production facility in New York. 

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Noni B owner to play COVID-19 card in ACCC case over late deliveries
Competition & Consumer Protection 2024-04-24 12:23 pm By Sam Matthews

Fashion retailer Mosaic Brands has flagged various COVID-related defences to a case brought by the Australian Competition and Consumer Commission alleging it failed to deliver several hundred thousand products to customers within advertised time frames.

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Aussie Skips accepts cartel conviction but will fight $3.5M penalty
Competition & Consumer Protection 2024-04-24 1:41 pm By Cindy Cameronne

Aussie Skips is not appealing a finding that it engaged in serious criminal cartel conduct but will challenge the size of the $3.5 million penalty, a court has been told.

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Judge warns wealth guru Dominique Grubisa to look ‘elsewhere’ in bid to stay ACCC case
Competition & Consumer Protection 2024-04-23 12:51 pm By Cindy Cameronne

Sydney lawyer and wealth guru Dominique Grubisa is challenging a finding in an ACCC case that her seminars made misleading statements and has sought to pause the court action until her appeal is heard, a bid a judge has warned won’t be “favourably received” by him.

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UniSuper accused of greenwashing over Transurban investment
Greenwashing 2024-04-23 10:37 pm By Cindy Cameronne

The Environmental Defenders Office has lodged a complaint with ASIC on behalf of a member of UniSuper, accusing the Australian superannuation fund of greenwashing its products by mislabelling them as ‘sustainable’. 

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ASIC wins ‘extraordinary’ asset freeze against crypto firm NGS
Cryptocurrency 2024-04-22 11:47 pm By Andy Sidler

Australians who sank $21.2 million into crypto firm NGS Crypto, including their retirement savings, may have been misled about the safety of their investments, according to an investigation by the Australian Securities and Investments Commission.

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ASIC appeals loss in landmark case over unfair insurance contracts
Insurance 2024-04-19 11:14 pm By Christine Caulfield

The corporate regulator is appealing a judgment that tossed its landmark action against Austo & General Insurance, saying the judge erred in construing an unclear and disproportionate term in the insurer’s house and contents policy.

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GLAD trash bags maker taken to court by ACCC for ‘50% ocean plastic’ claims
Greenwashing 2024-04-18 11:51 pm By Andy Sidler

Clorox has been taken to court for alleged greenwashing, with the ACCC claiming the consumer goods giant misled customers into believing that a line of its GLAD trash bags were sourced from plastic recycled from the ocean.

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