The CDPP has dropped charges accusing former executives of collapsed Bruck Textile Technologies of scheming their way out of making more than $3 million in redundancy payments, following an appellate ruling in their favour clarifying when it’s a crime to prevent the payout of employee wages.
Open4Sale Global’s directors have been penalised $2.6 million for breaching disclosure laws in raising money from investors, who were labelled “a bunch of idiots” by the company’s boss.
French bank Societe Generale has been hit with a $3.88 million fine for allowing two clients to place suspicious orders on the electricity and wheat futures market, following an investigation by ASIC.
The ACCC has accused four produce suppliers and three senior executives of fixing prices on vegetables supplied to discount grocery chain Aldi over a six-year period.
Mastercard has lost its claim for legal professional privilege over communications between its chief financial officer in Singapore and in-house counsel about merchant agreements the ACCC alleges were anti-competitive.
An appeals court has dismissed BlueScope Steel’s challenge to a decision finding it engaged in attempted price-fixing and was on the hook for a record $57.5 million penalty.
Noni B owner Mosaic Brands has been hit with a $25 million penalty for breaching consumer laws by failing to delivery 740,000 packages within the time frame specified on its website.
The corporate cop has cancelled the financial services licence of MWL Financial and banned its director for 10 years for allegedly directing more than 750 clients to invest a combined $155 million into Keystone’s failed Shield Master Fund.
Nuix is on the hook for $20 million before its insurers will cover its legal bills for suits over its $1.8 billion float, with a judge saying there was a good reason for the significant retention given the “notorious” expense of securities class actions.
A judge has hit coal producer TerraCom with a $7.5 million penalty in ASIC proceedings alleging it made misleading statements to the market that damaged a whistleblower’s reputation.