A judge has sided with five investments banks and rejected a bid to amend a class action alleging a series of cartel agreements to rig foreign exchange rates, saying there were “substantial problems” with the proposed pleadings.
Lawyerly’s Litigation Firms of 2020 delivered significant victories for clients last year in bet-the-company matters, thriving in a tumultuous year that saw courts and litigants adapt to virtual trials and other new norms that are sure to outlast the COVID-19 pandemic.
The ACCC has reached the end of the line in its challenge to Pacific National’s $205 million acquisition of Aurizon’s Acacia Ridge Terminal in Queensland, with the High Court dismissing the competition regulator’s application to take up the appeal.
Five investment banks facing a class action for their alleged rigging of foreign exchange rates have slammed the “unclear” and “incredibly vague” case, saying it contains “literally trillions” of possible variations of the cartel agreement allegedly entered into.
Telstra has suffered a defeat in its lawsuit accusing competitor Singtel Optus of violating consumer laws with ads claiming it is “covering more of Australia than ever before”, with a judge calling Telstra’s allegations that the ads implied a comparison with other telcos “strained and fanciful”.
The competition regulator wants the High Court to hear its challenge to Pacific National’s $205 million acquisition of Aurizon’s Acacia Ridge Terminal in Queensland, saying the deal would entrench the rail freight carrier’s near monopoly on the east coast of Australia.
Gaming giant Sony has agreed to pay a $3.5 million penalty to settle proceedings brought by the ACCC for making misleading consumer representations to purchasers of PlayStation games.
Personal healthcare giant PZ Cussons has lost its bid for indemnity costs against the ACCC, after claiming that the regulator was “doomed to fail” when it appealed a judgment dismissing its case over an alleged laundry detergent cartel.
The ACCC has come up short in its appeal of a ruling that dismissed its challenge to Pacific National $205 million acquisition of Aurizon’s Acacia Ridge Terminal in Queensland, with the Full Federal Court also releasing Pacific National from an undertaking given to the court.
Personal healthcare giant PZ Cussons is seeking indemnity costs from the ACCC, claiming the regulator unreasonably rejected a settlement offer in its case over an alleged laundry detergent cartel.