Competition & Consumer Protection

Noumi has admitted in a case by ASIC to breaching its continuous disclosure obligations by overstating the value of its inventory and failing to give a true and fair view of the company’s financial position.

Australian infant formula company Care A2 Plus has hit back at a $200 million lawsuit by US business partner Gensco, arguing the distributor did not properly execute the agreement at the heart of the dispute as allegations of phantom companies fly.

IG Markets has been hit with a second class action for offering “highly risky and unsuitable financial products” to retail investors, with a third competing proceeding in the works.

A Blue Sky director has pointed the finger at auditor Ernst & Young in a class action alleging the collapsed investment firm misled shareholders by misstating its assets under management. 

Dell Australia has been ordered to pay a $10 million penalty for making false and misleading representations about the discount prices of add-on computer monitors.

Telstra and TPG will not challenge a decision by the Australian Competition Tribunal to uphold the ACCC’s rejection of their proposed regional network sharing agreement.

A senior barrister’s case alleging Telstra falsely promised he could keep his chambers’ phone numbers when switching to the NBN has been discontinued.

Active Super has become the latest target of greenwashing claims by ASIC, with the corporate regulator alleging it misled the market about its responsible investment credentials, including by investing in coal mining, gambling, tobacco and Russian companies.

Two courts have ruled that in competing class actions against Hyundai and Kia over allegedly faulty anti-lock braking systems, a plaintiff’s bid to transfer one of the cases from Victoria to the Federal Court should precede a carriage fight, deeming it the “straightforward” option. 

A judge has directed a class action on behalf of 1,000 patients of Sydney-based plastic surgeon Daniel Lanzer and four of his associates to have another go at articulating claims that Lanzer’s clinic should be liable for allegedly ‘horrific’ complications.