Competition & Consumer Protection

Wholesale retailer Costco has paid a penalty of $33,000 to the consumer watchdog after being caught out for labelling imported lobster as locally sourced.

The ACCC has raised concerns about Coles plans to acquire milk processing plants from Saputo, with the regulator saying the transaction — marking the first time a supermarket chain has ventured into the processing market — would be a “major structural change”.

The proposed $1.5 billion merger of Australian Clinical Labs and Healius — two of Australia’s largest pathology services providers — is likely to substantially lessen competition, the ACCC has warned.

A judge overseeing a class action accusing Virgin Australia of failing to disclose its true financial position in a $324 million capital raising prospectus has joined a dozen insurers to the proceeding, which he said had “regrettably languished”.

A court has approved a $26 million settlement in the long-running class action against cruise operator Scenic Tours, with $7 million earmarked for litigation funder Legal Justice.

A Sydney law firm running group proceedings against Hyundai and Kia over allegedly faulty anti-lock braking systems has joined forces with a NY-based class action firm that achieved a settlement worth up to $955 million against the car manufacturers in the US.

The Australian Competition and Consumer Commission has set its sights on data brokers such as Equifax and Corelogic amid concerns about harms to consumers from their information collecting practices.

The ACCC has launched a competition review of Viva Energy’s proposed $1.15 billion acquisition of South Australia-based On The Run Group, and the service station giant has already offered a sweetener to get the merger over the line.

Korean car makers Hyundai and Kia have filed their defences in class actions over alleged engine defects, arguing owners cannot bring claims if their vehicles were repaired and that they are not responsible for any faults said to be caused by their manufacturing partner.

A former Holden dealer has won the right to see General Motors corporate strategy documents in the five years leading up to Holden’s retirement, in his suit claiming the carmaker’s executives misled him when saying GM was “100% committed” to the line before axing it just a few years later.