A $19.6 million legal bill racked up by the law firm behind two 7-Eleven class actions accusing the convenience store chain of misleading franchisees did not warrant the appointment of a contradictor to a hearing seeking approval of a $98 million settlement, a court has heard.
Apple has told a judge a high-stakes competition lawsuit by Fornite game maker Epic Games should be temporarily stayed in light of a special leave application lodged with the High Court and an ‘imminent’ judgment from a US court.
Convenience store giant 7-Eleven has agreed to pay $98 million to settle two class actions accusing it of misleading franchisees, the largest class action settlement reached so far this year.
The Australian Competition and Consumer Commission is investigating whether new legislation is needed to address the impact of dominant digital platforms such as Google and Apple, as the regulator’s overseas counterparts usher in bills aimed at cracking down on anticompetitive behaviour.
The banks and high-ranking executives targeted in pared-down criminal cartel proceedings over a $2.5 billion ANZ share placement are taking new steps to shut down the long-running case, including further probes into the ACCC’s conduct during its investigation into the alleged cartel.
A judge has found PwC should face a claim that it engaged in misleading and deceptive conduct while assisting Chinese lender Aoyin with its planned launch in Australia by failing to properly advise the company there was a risk its shareholders did not comply with APRA’s ‘fit and proper’ requirement.
Prosecutors have withdrawn two-thirds of the charges in a criminal cartel case over a $2.5 billion ANZ share placement and have dropped their case against former Citigroup CEO Stephen Roberts, according to a lawyer in the case.
International sporting goods giant Decathlon has been ordered to pay a $1.5 million penalty for selling hundreds of basketball hoops and inflatable swimming pools that did not comply with mandatory safety standards.
Prosecutors might cut the number of criminal cartel charges levelled against money transfer business Vina Money and five individuals who allegedly fixed the foreign exchange rate on millions of dollars transferred between Australian and Vietnam between 2011 and 2016, a court has heard.
Criminal cartel charges against the CFMEU and its ACT branch secretary have been dropped amid concerns about witnesses’ ability to recall the events at the centre of the case, two months after witness credibility concerns led to a stinging defeat for the ACCC in the Country Care criminal cartel trial.