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Two class actions have failed to convince a judge that the Commonwealth Bank of Australia's money laundering compliance failure which led to a $700 million penalty was "law breaking on a grand scale" that should have been disclosed to the market, the latest shareholder case to flop after being taken to trial.
A judge who tossed a $650 million lawsuit by dealers against Mercedes-Benz has said he rejected a "value-laden" take by other judges on what amounts to unconscionable conduct, avoiding what he mockingly described as "putatively profound" propositions "dollied up in prettified prose".
Epic Games' case alleging Google ran its Play Store anti-competitively is "significantly more ambitious" than the Fortnite game maker's claims against Apple, according to the search giant, which says its restraints are "more flexible and less draconian" than the iPhone maker's.
ANZ has agreed to pay $57.5 million in a settlement of a class action over retrospective interest charges on credit cards.
Hitting back at claims that its App Store stifles competition, Apple has told a trial that app developers have myriad ways of maximising profits without paying it a commission, noting Epic Games made US$3.8 billion from in-game currency V-Bucks in 2021.
Investors in an apartment development in Melbourne have brought a class action against the responsible managers for two managed investment schemes, alleging their funds were misused.
Google has criticised two competition class actions which piggyback on claims brought by Fornite developer Epic Games as "opportunistic", but counsel for the class actions told a court the suits on behalf of more than 15 million group members were in the public interest.
A judge overseeing a landmark competition case against Apple and Google has questioned whether Apple’s US lawyers wrongly used court submissions in Australia to put pressure on Epic Games in Europe and justify temporarily removing its developer account.
Google offered Fortnite creator Epic Games $200 million and proposed to acquire equity in the company to prevent it from opening its own app store with exclusive content that could compete with the search giant's Play Store, a court has heard.
Google is nearing "monopoly levels" with its exploitation of the Android brand to prevent other app stores from competing with its Play Store, the maker of the Fortnite video game has said in a landmark competition trial.