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A judge overseeing a superannuation class action against two Westpac units that settled for $30 million has flagged the possibility of appointing a contradictor to examine the litigation funder’s claimed cut of the settlement, which includes a deduction of over $1 million to cover the costs of after-the-event insurance.
Facebook has agreed to pay a $20 million penalty for misleading consumers by representing that its discontinued Onavo Protect mobile app would keep users’ personal activity data private, when in fact it was being collected for commercial use.
Skincare giant L’Oreal has lost the rights to use a 23-year-old trade mark for branding some of its products, after a competitor successfully campaigned IP Australia to strike it from the register for non-use.
Armaguard and rival Prosegur have secured authorisation for their proposed merger from the ACCC, which has found the likely reduction in competition in the cash transport industry was outweighed by the public benefits of the transaction.
The former chief financial officer of Big Un has become the third person to be charged with insider trading connected to shares in the defunct video producer.
The Australian Taxation Office has won a long-running case over an international tax evasion scheme by a company linked to the Binetter family after uncovering evidence showing earlier judgments were secured by fraud.
ANZ has rubbished arguments from a competitor and the ACCC that its merger with Suncorp’s banking arm will reduce competition and hurt consumers, saying the watchdog had been asked to believe a “distorted and selective view” of the proposal.
Commonwealth Bank of Australia has copped a record $3.55 million penalty for breaching spam laws after it sent more than 65 million emails without an easy way for individuals to unsubscribe.
NAB has told a court it should pay a $2 million penalty -- not the $10 million proposed by ASIC -- for engaging in unconscionable conduct by overcharging customers, saying the exact words used in the regulator's concise statement accuse it only of a single contravention.