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The ACCC has been given the green light to use witness statements prepared during its criminal cartel investigation of BlueScope Steel in the civil penalty proceedings launched by the regulator, but a fight with the steel giant over the admissibility of the evidence still looms.
The Australian Competition and Consumer Commission has won court approval to bring new claims against BlueScope Steel for allegedly seeking to induce competitor OneSteel to engage in cartel conduct.
A judge has signed off on a $32.4 million settlement in a shareholder class action against engineering services firm CIMIC, including a hefty legal bill for the firm that brought the case.
Engineering services company CIMIC will fork over $32.4 million to settle a shareholder class action, with group members expected to get 40 per cent of the settlement total if the court approves the requested legal costs and funder's commission.
Engineering services company CIMIC has agreed to settle a long-running shareholder class action launched in the wake of media reports of an alleged $42 million bribe paid by the firm to win a lucrative oil contract.
The banks and executives facing criminal charges over alleged cartel conduct related to ANZ's $2.5 billion share placement in 2015 will fight to widen their cross-examination of key ACCC witnesses after new information was brought to light in late submissions by the regulator.
A key witness from JPMorgan previously contested claims by the ACCC that a key component of an alleged cartel arrangement between four major banks around a $2.5 billion institutional share placement by ANZ was actually an 'agreement,' as opposed to a series of independent decisions, a court has heard.
Garmin has reached a settlement in a competition case brought by its former exclusive Australian distributor alleging the GPS technology giant misused its market power after the supplier refused to give up its five best customers.
Bail conditions have been set for a former BlueScope Steel executive charged with obstructing an Australian Competition and Consumer Commission criminal cartel probe into the steel company, the first criminal charges ever brought against an individual in relation to an ACCC investigation.
The competition regulator has been probing alleged cartel conduct by steel giant Bluescope for a number of years, counsel for the company told a court Friday as it sought transcripts of the watchdog's compulsory interviews of witnesses and asked for five months to put on a defence.