AMP has agreed to pay $120 million to settle a class action stemming from the banking royal commission which accused it of overcharging millions of superannuation members over a 12-year period.
A judge has put off deciding what damages group members are owed in two class actions against Apple and Google after finding the tech companies engaged in anti-competitive conduct in the app marketplace.
An appeals court has dismissed BlueScope Steel’s challenge to a decision finding it engaged in attempted price-fixing and was on the hook for a record $57.5 million penalty.
Following the failure of two class actions to prove market-based loss from the Commonwealth Bank’s disclosure breaches, the bank is fighting the class actions’ bid to pursue individual ‘no transaction’ cases, saying they were “trying to keep something alive that is truly dead”.
In a major win for two class actions and Fortnite maker Epic Games, a judge has found that Apple and Google misused their market power in running app stores and in-app purchase systems.
The judge hearing the ACCC’s price-fixing case against Downer EDI’s Spotless and Ventia has proposed an initial hearing to determine if the companies are in competition, saying he won’t let the case become “totally unwieldy”.
In explaining where CBA shareholders went wrong in proving damages from the bank’s omissions over an AUSTRAC probe, the Full Federal Court has given class action plaintiffs the clearest indication yet of how they might win.
A judge has refused a bid for more money to distribute a $5 million settlement in a class action against Tyro and has barred the scheme administrator from resigning without the court’s leave, after he threatened to quit.
In the ACCC’s price-fixing case, infrastructure services company Ventia has joined with Spotless in arguing the companies were not in competition, and says it was the Department of Defence that arranged for the providers to talk.
The failure of two class actions to prove loss linked to the Commonwealth Bank’s disclosure breaches was not the fault of the bank, an appeals court has held in dealing the latest blow to shareholder group proceedings.