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A judge overseeing a superannuation class action against two Westpac units that settled for $30 million has flagged the possibility of appointing a contradictor to examine the litigation funder’s claimed cut of the settlement, which includes a deduction of over $1 million to cover the costs of after-the-event insurance.
Sunshine Loans has lost its bid to have the Full Court weigh in on ASIC’s authority to seek penalties for Credit Code violations, in proceedings accusing the online lender of charging over $320,000 in prohibited fees.
The High Court has rejected an appeal by a mortgage broker in a saga stretching back a decade, when the corporate regulator imposed a lifelong ban against the broker for failing to disclose a conviction on his credit licence application.
Facebook has agreed to pay a $20 million penalty for misleading consumers by representing that its discontinued Onavo Protect mobile app would keep users’ personal activity data private, when in fact it was being collected for commercial use.
Skincare giant L’Oreal has lost the rights to use a 23-year-old trade mark for branding some of its products, after a competitor successfully campaigned IP Australia to strike it from the register for non-use.
The former chief financial officer of Big Un has become the third person to be charged with insider trading connected to shares in the defunct video producer.
Armaguard and rival Prosegur have secured authorisation for their proposed merger from the ACCC, which has found the likely reduction in competition in the cash transport industry was outweighed by the public benefits of the transaction.
The Australian Taxation Office has won a long-running case over an international tax evasion scheme by a company linked to the Binetter family after uncovering evidence showing earlier judgments were secured by fraud.
Commonwealth Bank of Australia has copped a record $3.55 million penalty for breaching spam laws after it sent more than 65 million emails without an easy way for individuals to unsubscribe.