The Australian Securities and Investments Commission has hit financial services provider AMP with court action over fees-for-no-service conduct that allegedly led to upwards of $600,000 being unlawfully withdrawn from superannuation member accounts.
A judge weighing a dispute between ASIC and the Commonwealth Bank over whether notice of a $7 million penalty should be sent out through the bank’s Commbank app has questioned the usefulness of adverse publicity notices and whether they should be ditched for higher pecuniary penalties in the future.
Streetwear retailer Culture Kings has resolved a lawsuit brought by former world boxing champion Mike Tyson alleging the company misled consumers by using his image on its T-shirts.
When trial begins next month in the ACCC’s cartel case against BlueScope Steel, the parties will all appear by video, with a judge saying “hybrid” hearings – where some parties are in court and others appear by video – were “unsatisfactory”.
Regional Express is weighing court action against Qantas, alleging Australia’s biggest airline engaged in anti-competitive behaviour in the form of capacity dumping and predatory practices.
The Australian Competition and Consumer Commission has appealed a judge’s decision throwing out its competition case over an agreement for the privatisation of two NSW ports, calling the case “a matter of significance for the Australian economy”.
Queensland crane company NQCranes wants to strike out the bulk of the ACCC’s amended case alleging a conspiracy with a multinational rival to divide the Brisbane and Newcastle markets, saying there was no evidence of the regulator’s new allegations of a second cartel agreement.
The ACCC has brought Federal Court action against major milk processor Lactalis Australia, the regulator’s first case for breaches of the dairy code of conduct.
A judge has approved a $50 million settlement in a shareholder class action against failed training company Vocation and auditor PricewaterhouseCoopers, but questioned whether the $10.9 million commission and $12.75 million legal bill could have been “materially lower” had the case been run by one funder and firm instead of two.
The number of lawyers involved in a class action against 3A Composites over allegedly combustible cladding is set to balloon, with the German cladding manufacturer lobbing cross-claims against nine different parties.