The Australian Securities and Investments Commission has dragged lender Money3 to court for allegedly failing to properly assess the creditworthiness of low-income individuals before saddling them with $11,000 loans for second-hand car purchases.
The company behind the Ultimate Fighting Championship gym franchise has been ordered to pay $5 million to three franchisees after a judge found it misled them about businesses which were “near valueless” and unlikely to make profit.
An appeals court has shot down funder Augusta’s challenge to a decision that cut its commission in the Opal Tower class action, putting funders on notice that they will have to marshal compelling evidence to win approval for their returns from an increasingly watchful court.
Google has denied class action that it distorted competition in the app marketplace and left consumers paying higher prices, pointing out in its defence there are alternative app stores on its Android platform.
Water services company Veolia Water Australia has won its bid for EnergyAustralia and two mining companies to hand over information about the quality of mine water they send for treatment, with a judge finding it could be “materially worse” than promised. In a judgment handed down on Wednesday, Federal Court Justice Scott Goodman ordered EnergyAustralia…
Insurance Australia has agreed to pay a $40 million penalty in a case by the Australian Securities and Investments Commission alleging it short-changed NRMA customers a staggering $60 million in promised loyalty discounts.
A judge overseeing two 7-Eleven class actions has signed off on $2.25 million in costs incurred by the funder and lawyers in their pitched battle to win approval for the terms of a $98 million settlement, which included deductions of more than $44 million to cover commission and fees.
IG Markets has been hit with a class action on behalf of up to 20,000 everyday investors who have allegedly lost hundreds of millions of dollars trading in risky financial products known as contracts for difference, or CFDs.
Telstra and TPG have asked the Competition Tribunal to undo the ACCC’s rejection of their proposed regional network sharing agreement, but fellow telco Optus has warned the deal would kneecap its ability to compete.
A judge has questioned an “unusual” bid by Noumi to shield over 3,000 documents, their titles and the identities of those who sent them to PricewaterhouseCoopers during a 2020 investigation into the food company’s financial position.