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The consumer regulator has asked a judge to impose penalties of almost $10 million against Honda Australia for misleading the customers of two former authorised dealerships, a penalty up to 10 times what the car maker says it should pay.
A judge asked to approve a $50 million settlement in a consumer credit insurance class action against the Commonwealth Bank has questioned a $2.5 million deduction for professional services firm Deloitte.
ANZ's $47 million settlement of a class action over its consumer credit insurance has been given the nod by a judge, who has also approved recovery of the cost of after-the-event insurance held by the law firm running the case.
The Australian Securities and Investments Commission has told a trial judge that superannuation trustee Diversa can’t hide behind outsourcing arrangements to explain its alleged failures to oversee a now-banned financial adviser accused of luring vulnerable customers into signing up to Diversa accounts.
A judge has approved a $29 million settlement in a class action against Westpac over 'junk' consumer credit insurance, a deal that earns the bank's customers at least $19.6 million.
A $47 million settlement in a class action against ANZ -- one of three settlements in a series of class actions against the big banks over 'junk' consumer credit insurance -- was fair and reasonable, a judge has said.
ANZ has been hit with a $10 million penalty in a case brought by the Australian Securities and Investments Commission alleging the bank's home loan 'introducer' referral program breached credit laws.
A Chinese crypto miner has won its equipment back, for now, after a Melbourne business it charged with looking after the machines allegedly allowed four other businesses to access them, culminating in a five-way stoush involving an ambulance and police.
A judge has approved a $1 million settlement in a shareholder class action against failed tech start-up GetSwift that leaves the law firm running the matter taking a “massive haircut” and the funder $5.5 million out of pocket.
Class action settlement sums reached new highs last year, with the ten largest agreements totalling almost $1 billion, almost half of which was secured by one plaintiff law firm.