Competition & Consumer Protection

In a contest to run a class action against International Capital Markets over risky derivative products, a proposed consolidated proceeding has taken aim at third-to-file Banton Group for allegedly copying its case. 

Industrial technology company Delta Building Automation has appealed a $1.5 million penalty for attempting to rig a bid for construction work on the National Gallery of Australia, a penalty five times the amount it claimed it should face.

Lendlease’s plan to sell a portfolio of residential community projects to Stockland for $1.3 billion has raised concerns for the ACCC, which worries the transaction may substantially lessen competition in the supply of residential masterplanned community housing lots in four regions.

PricewaterhouseCoopers has agreed to pay $8.25 million to settle a class action on behalf of Axsesstoday bondholders over an allegedly misleading bond prospectus, bringing the settlement total to $9.5 million after a group of insurers agreed to pay $1 million to settle the class action’s claims.

Energy retailer Origin Energy has hit back at a trade mark infringement suit filed by internet provider Origin Net, arguing that its mark should be revoked and accusing Origin Net of misleading and deceptive conduct. 

Google has slammed Fortnite game maker Epic Games’ landmark competition case against it as “contrary to commercial reality”, saying its competition with rival tech giant Apple means it is no monopolist.

Generic drug maker Mayne Pharma has resolved a shareholder class action centred on disclosures connected to price-fixing claims by US regulators.

The ACCC has accepted undertakings from Telstra and Optus not to renew agreements requiring them to pre-install Google apps on Android devices as part of its competition probe into Google.

In a landmark competition case, Apple has told the Federal Court that Epic Games and other developers should not be allowed to “freeride” on the resources and user base the tech giant has “spent many billions” to develop. 

Defunct microloan company Ferratum has been hit with $16 million in penalties for overcharging low-income consumers during the height of the COVID-19 pandemic, with a judge noting the company’s conduct affected a large number of vulnerable customers.