Online book retailer Booktopia has agreed to a $6 million penalty to resolve action brought by the consumer regulator alleging its refund policy was misleading.
The state of Victoria can’t duck class action claims that failures in its hotel quarantine program caused businesses to suffer losses when stage three and four restrictions were put in place during the state’s second wave of COVID-19 cases in 2020.
A consolidated class action’s bid to include claims concerning dairy company a2 Milk’s disclosures to the New Zealand stock exchange is in doubt, despite broad agreement between the parties that the claims can be pursued in Victoria.
AMP has admitted ASIC’s allegations that it acted unconscionably in charging life insurance premiums and advice fees to deceased customers, but the wealth manager will go head to head with the regulator over how much it should pay for its contraventions.
BHP and mining equipment company Epiroc Australia have been sued for alleging infringing a patent held by Rio Tinto subsidiary Technological Resources for an autonomous drilling system.
The Australia and New Zealand Banking Group has hit back at ASIC proceedings alleging it saddled hundreds of thousands of customers with cash advance fees after providing them with incorrect account balances, saying its customers were “expressly on notice” the fees would be charged.
A shareholder class action against Ernst & Young over its alleged inflation of assets owned by sandalwood producer Quintis has argued the accounting firm should be allowed only one expert witness, who should collaborate with a competing expert chosen by the investors.
A class action on behalf of former clients of collapsed wealth manager Dixon Advisory has filed a court bid for information on any insurance policy held by the business that might cover the mammoth claims, estimated to be worth between $278 million and $463 million.
The Australian Securities and Investments Commission will not seek to enforce a $7.2 million penalty agreed to by Dixon Advisory after admitting to the regulator’s allegations that it failed to act in its clients’ best interests.
Several lenders have appealed a ruling that found they failed to prove steel giant Arrium falsified representations on loan drawdown notices ahead of its $2.8 billion collapse, saying it was a “no brainer” that the company was in dire straits when its directors sought extra funds.