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IVF provider Virtus’ confidentiality claims ‘border on ridiculous’, judge says
ACCC 2021-11-03 9:02 pm By Cindy Cameronne Sydney

A judge has rejected part of IVF provider Virtus Health’s bid for redactions in a recent decision from the court temporarily blocking the company from purchasing rival Adora Fertility, saying some of the confidentiality claims were “staggering” and “border on ridiculous.”

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Judge slams indictment in cartel case as ‘complete shemozzle’
ACCC 2021-11-03 3:41 pm By Miklos Bolza Sydney

A judge has declined to quash the indictment in a high-profile criminal case over a $2.5 billion ANZ share placement but sent prosecutors back to the drawing board to remedy its defects, calling the state of affairs “a complete shemozzle”.

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Holders of Aussie cryptocurrency Qoin threaten class action
Class Actions 2021-11-02 8:55 pm By Cindy Cameronne Sydney

An issuer of Gold Coast-based cryptocurrency Qoin may be hit with a class action by investors claiming it is a “token of no utility”.

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ASIC takes digital lender Ferratum to court for overcharging borrowers
ASIC 2021-11-02 11:07 am By Bianca Hrovat Sydney

The Australian Securities and Investments Commission has accused Finnish microloan company Ferratum of overcharging vulnerable, low-income consumers during the height of the COVID-19 pandemic.

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ACCC puts government agencies on notice about bid-rigging
ACCC 2021-11-01 6:29 pm By Cindy Cameronne Sydney

The Australian Competition and Consumer Commission has warned public agencies not to encourage businesses to coordinate bids for tenders, saying an investigation showed government departments had “contemplated cooperation” by competitors.

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BlueScope meeting made distributor ‘extremely uncomfortable’, ACCC tells court
ACCC 2021-11-01 5:58 pm By Cindy Cameronne Sydney

BlueScope general manager Jason Ellis made executives of a steel distributor “extremely uncomfortable” in a meeting where he presented the steel giant’s price list, a court hearing the ACCC’s price-fixing case was told Monday.

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Criminal cartel case dropped against ANZ, group treasurer over $2.5B share placement
ACCC 2021-10-29 9:27 pm By Christine Caulfield Melbourne

In a major blow to the competition regulator’s high-profile price-fixing case over ANZ’s $2.5 billion capital raising, prosecutors have dropped all charges against the bank and its group treasurer, Rick Moscati.

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ACCC raises competition concerns over tie-up of container equipment suppliers
ACCC 2021-10-28 4:37 pm By Bianca Hrovat Sydney

The Australian Competition and Consumer Commission has flagged preliminary competition concerns about a proposed merger of two of the largest suppliers of mobile container handling equipment, saying the tie-up could leave customers without a proven alternative supplier at shipping terminals.

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Rate-rigging class action pleadings OK’d, more than two years after case filed
Allen & Overy 2021-10-28 3:56 pm By Miklos Bolza Sydney

A judge has given the green light to amended pleadings in a class action accusing major banks of entering a cartel agreement to rig foreign exchange rates, bringing a two-year fight over the pleadings closer to resolution.

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ACCC looks to rein in Google’s search dominance with choice screen
ACCC 2021-10-28 3:36 pm By Bianca Hrovat Sydney

The Australian Competition and Consumer Commission is calling for the power to mandate ‘choice screens’ in mobile devices to provide Australian consumers with a wider variety of online search engine options, as part of the regulator’s ongoing efforts to mitigate Google’s search dominance.

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