The corporate regulator is appealing a judgment that tossed its landmark action against Austo & General Insurance, saying the judge erred in construing an unclear and disproportionate term in the insurer’s house and contents policy.
Clorox has been taken to court for alleged greenwashing, with the ACCC claiming the consumer goods giant misled customers into believing that a line of its GLAD trash bags were sourced from plastic recycled from the ocean.
Sydney stockbroker Adam Blumenthal has been ordered to pay close to $1 million after admitting to market rigging and breaching his duties as director of two companies — including by arranging a $7 million loan to ‘ASX Wolf’ Tyson Scholz.
ASIC chair Joe Longo has called on lawyers to be bold in their embrace of emerging technologies, saying lawyers “must be careful with generative AI but not afraid of it”.
In a win for the Australian Securities and Investments Commission, a judge has found that payday lender Sunshine Loans charged thousands of customers prohibited fees, issuing a scathing judgment condemning the company’s “wrongheaded” conduct.
A former director of Noumi has won his challenge to the food manufacturer’s claim for legal professional privilege over a PricewaterhouseCoopers report commissioned by its lawyers at Ashurst, with a judge finding the company waived privilege by disclosing it to Australian Securities and Investments Commission.
Advisory firm Lanterne Fund, which operated as a ‘licensee for hire’, has been hit with a $1.25 million penalty for breaching its obligations as a financial services licence holder.
The Australian Securities and Investments Commission is challenging a decision that Finder Wallet did not need a financial services licence to sell its defunct cryptocurrency product.
Competition law experts have raised doubts about changes to Australia’s merger review regime announced Wednesday, calling the reforms a mixed bag for businesses and the reduced role of the Federal Court “disappointing”.
The collapsed companies behind dumpling chain Din Tai Fung have been hit with over $3.8 million in penalties after a judge found they engaged in a “a calculated scheme to rob employees of their hard-earned wages and deceive the authorities”.