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Banks want to grill ANZ cartel case witnesses on late evidence by ACCC
Competition & Consumer Protection 2019-12-10 6:58 pm By Miklos Bolza

The banks and executives facing criminal charges over alleged cartel conduct related to ANZ’s $2.5 billion share placement in 2015 will fight to widen their cross-examination of key ACCC witnesses after new information was brought to light in late submissions by the regulator.

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JPMorgan witness disputed existence of ANZ cartel ‘agreement’ court hears
Competition & Consumer Protection 2019-12-06 9:45 pm By Miklos Bolza

A key witness from JPMorgan previously contested claims by the ACCC that a key component of an alleged cartel arrangement between four major banks around a $2.5 billion institutional share placement by ANZ was actually an ‘agreement,’ as opposed to a series of independent decisions, a court has heard.

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Group members to get $100 or less under $1.5M ANZ class action settlement
Class Actions 2019-12-06 1:54 pm By Cat Fredenburgh

A judge has given the green light to a $1.5 million settlement in a long-running class action against ANZ alleging it slapped customers with illegal fees, with group members expected to get no more than $100 and potentially walking away with “substantially less” than this.

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JPMorgan witnesses grilled as banks seek to poke holes in ANZ cartel case
Competition & Consumer Protection 2019-12-05 9:21 pm By Miklos Bolza

Two key witnesses from JPMorgan have been grilled by lawyers for three major investments banks named in a high-stakes criminal cartel case as the banks seek to cast doubt on how the ACCC gathered evidence during its almost two-year cartel investigation.

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Coles to pay $5.25M to Norco dairy farmers after ACCC investigation
Competition & Consumer Protection 2019-12-05 4:28 pm By

Coles has agreed to pay about $5.25 million to dairy co-operative Norco after an investigation by the Australian Competition and Consumer Commission found the supermarket giant failed to pass on the full price rise it charged consumers for Coles-branded fresh milk as it promised to do.

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Sony skips level in ACCC’s PlayStation lawsuit
Competition & Consumer Protection 2019-12-04 3:49 pm By

A Federal Court judge has vacated a hearing on liability in the Australian Competition and Consumer Commission’s lawsuit against Sony alleging the entertainment company misled gamers who purchased faulty PlayStation games.

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Domino’s attacks class action, says franchisee representations were opinion not fact
Class Actions 2019-12-03 11:34 pm By Cat Fredenburgh

Fast food giant Domino’s has denied allegations that it violated consumer law with the representations it made to franchisees about the agreements its workers were covered under, saying it was only giving franchisees its opinion.

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Sydney lawyer on the hook for ‘actively concealing’ Peter Foster’s sports betting scam
Class Actions 2019-12-02 11:43 am By Miklos Bolza

Investors who sank $12.3 million into a fraudulent sports betting scheme run by convicted conman Peter Foster lost money because a Sydney lawyer failed to come forward with the truth, a judge has found.

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Optus hit with $6.4M fine for misleading NBN email
Competition & Consumer Protection 2019-11-29 10:24 pm By Cat Fredenburgh

A Federal Court judge has slapped Optus with a $6.4 million penalty for sending a misleading email to 138,988 mobile customers informing them their broadband service would be disconnected soon, just two days after the telecommunications giant copped a $1.5 million penalty for similar conduct.

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Competition watchdog keeps up fight for lower access fees at Port of Newcastle
Competition & Consumer Protection 2019-11-28 9:46 pm By Miklos Bolza

The ACCC has taken its long-running battle over access fees at the Port of Newcastle to the Federal Court, challenging a re-arbitration decision that overturned its finding that the fees should be cut by 20 per cent.

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