Commonwealth Bank of Australia could be on the hook for a large penalty after the court found the bank engaged in misleading and deceptive conduct and violated its financial services obligations on more than 12,000 occasions by overcharging customers more than $2.2 million in interest.
PricewaterhouseCoopers is looking to shut down a class action by irate bondholders of collapsed asset finance lender Axsesstoday Limited over alleged misrepresentations in a $50 million bond offer.
South Korean car maker Hyundai is facing a possible class action after it recalled over 90,000 cars earlier this month over safety concerns.
Counsel for Queensland-based NQCranes has lashed out at the ACCC for seeking to amend its cartel action against the crane company, telling a court the regulator had been warned for months that the case was deficient.
US consumer goods giant Kimberly-Clark has agreed to pay $200,000 for misleading ‘Made in Australia’ representations made on its ‘flushable’ wipes.
Proceedings launched by ASIC in December accusing the Commonwealth Bank of Australia of saddling consumers with $2.9 million in inflated interest rates on their business overdraft accounts on more than 12,000 occasions will move swiftly to a penalties hearing.
Cruise company Australian Pacific Touring will resist any expansion of a test case over cancellations brought against it by a former passenger after its failure to properly provide discovery resulted in a fragmented hearing meant to conclude in September last year.
The Australian Competition and Consumer Commission has raised preliminary competition concerns about accounting software provider MYOB’s proposal to swallow up cloud practice management software provider GreatSoft, saying the South Africa-based company has the potential to become a strong competitor to MYOB as more accounting firms migrate to the cloud.
A class action by franchisees against mobile and internet retailer TeleChoice will return to the Victoria Supreme Court next week as group members seek commissions they allege have been withheld while the company battles separate litigation against Optus.
A judge has approved a $9.5 million settlement in a class action against McMillan Shakespeare as fair and reasonable, allowing a common fund order and a nearly 30 percent commission for the litigation funder despite previously raising “real concerns” about the small portion flowing to group members.