A judge has thrown out proceedings brought by mining magnate Clive Palmer in which he alleged an abuse of process by prosecutors and the Australian Securities and Investments Commission, finding that Palmer’s suits were themselves a “misuse of proceedings.”
A former Tesla Motors Australia director has pleaded guilty to two counts of insider trading for acquiring shares in Piedmont Lithium based on insider information he had about an in-principle agreement the mining company had to supply lithium to Tesla.
The former chief executive of Commonwealth Bank has told a court internal auditors raised issues with CBA’s anti-money laundering and counter-terrorism financing compliance four years before AUSTRAC took action that saw the bank’s share price plummet.
The Australian Competition and Consumer Commission has called for a suite of new laws to curb “widespread, entrenched, and systemic” consumer and competition issues on digital platforms.
A judge has hit Optus, Telstra, and TPG with a total of $33.5 million in penalties for misleading thousands of NBN customers into paying for internet speeds that could not be achieved.
The High Court will not wade into the global debate over whether artificial intelligence inventions should receive patent protection, letting stand a Full Court judgment that overturned a landmark victory for AI pioneer Dr Stephen Thaler.
A judge has ordered Smile Direct Club and its Australian unit to pay a $3.5 million penalty and reimburse customers for misleading them into believing they would be reimbursed by their insurers for the dental care company’s costly teeth straighteners.
Optus has agreed to pay a $13.5 million penalty for misleading thousands of NBN customers into paying for internet plan speeds that could not be achieved, the telco’s third penalty in four years over misleading representations made in relation to its NBN services.
Liberty Financial unit Minerva has challenged a judgment that found two schemes it carried out were done with the primary purpose of securing a tax advantage.
The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank takes the rare move of defending a shareholder class action at trial.