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A finding that Noumi's production of a PwC report to ASIC didn't constitute waiver of privilege provides clarity that voluntary disclosure agreements can protect confidential information, but care must still be taken, lawyers say.
Noumi and auditor Deloitte will pay $43 million to resolve a class action alleging the company misled investors about its inventory, and the class action will make a play for a $5 million penalty agreed to in ASIC proceedings.
An appeals court has overturned a finding that food company Noumi waived privilege over a PwC report commissioned by Ashurst, which it produced to ASIC under voluntary disclosure.
Hitting back at the regulator's claims of dodgy sales promotions, Coles and Woolworths say price increases were the result of real cost pressures, and subsequent discounts were not illusory.
ASIC wants the Full Court to overturn a finding that Noumi waived privilege over a PwC report produced under a voluntary disclosure regime, arguing the regime benefits the public in making investigations more efficient.
Coles and Woolworths have hit back at the ACCC's claims they advertised “illusory” discounts, pointing the finger at inflation and higher supply costs.
Michael Hill has won its challenge to a decision that found the jewellery retailer breached an exclusivity clause and minimum order requirements in a sales agreement with a packaging supplier.