Health insurer Medibank has admitted to engaging in misleading and deceptive conduct when it falsely told consumers they were not eligible for certain coverage under their insurance policies in what it called an “internal process failure”, but denies the ACCC’s claim that consumers were denied the benefits they paid for.
A judge has ordered all proceedings against Dick Smith to be heard concurrently during a marathon three month trial, after the plaintiffs in a shareholder class action brought against the failed electronics retailerās insurers aborted a fleeting bid to temporarily discontinue their case.
Corrs Chambers Westgarth has been retained by the AMP Financial Planners Association to weigh a possible class action against the wealth manager over its plan to cut the number of authorised advisers and retreat from a promise to buy back their businesses at a set multiple.
ANZ has rejected allegations by the financial regulator that $35 million in fees charged to customers for periodical payments between accounts was unlawful, saying the regulator’s case extended the scope of false and misleading representation claims.
Online fashion retailer Surfstitch has reached an in-principle settlement in two shareholder class actions, about nine months after an initial agreement to resolve the dispute derailed.
Retailers Target and Big W have admitted they breached the consumer laws and potentially misled customers complaining about faulty Sony PlayStations and Dyson appliances, the ACCC said Tuesday.
The Full Federal Court has reimposed bans against four former directors of collapsed retirement village owner Prime Trust, including former federal health minister Michael Wooldridge, following a successful High Court challenge by the Australian Securities and Investments Commission.
Aristocrat Technology has gone “too far” in seeking full profits from the sale of Konami Australia’s infringing pokie machines, with Konami arguing the court should calculate damages in relation to what proportion of its machines were created using components that infringe the gaming giant’s patent.
The former CEO of financial software firm GBST has been awarded more than $2.2 million in damages, with a court finding he was wrongfully terminated by the company amid unsubstantiated allegations of insider trading.
Perth-based Farooq Khan has lost a key case in the battle for control over investment firm Keybridge Capital, after a judge invalidated a board decision to suspend activist investor Nicholas Bolton as CEO and terminate chair John Patton on the basis of Khanās breach of his directorsā duties.