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A judge has signed off on a $59 million settlement in a class action accusing five banks of foreign exchange rate-rigging, while bemoaning the failure of successive attorneys-general to advance reforms clarifying the court’s power to make class closure orders.
Mastercard says legal professional privilege remained over a document after a junior lawyer "inadvertently" sent it to the ACCC in 2020 while the credit card giant was trying to dissuade the regulator from continuing an investigation into alleged anti-competitive conduct.
Magnis Energy Technologies has missed the deadline to file its evidence in ASIC proceedings over allegedly misleading disclosures about its lithium ion battery plant, with a court hearing the company's new lawyers have not had a chance to brief counsel.
Mercer Super faces enforcement action by ASIC, alleging the superannuation giant failed to inform the watchdog about investigations into serious issues, including a failure to refund premiums to dead members.
The competition watchdog has raised concerns over the proposed tie-up of Kegstar and Konvoy -- the only operators in the niche industry of keg pooling -- saying the deal could mean higher prices.
Online investment platform eToro has won its bid to rely on late expert evidence in ASIC's first-ever action alleging breach of obligations in designing and selling financial products over high-risk contracts for difference.
A landmark finding that Apple and Google misused their market power will boost competition claims -- including class actions -- against other dominant digital market players and could prompt the ACCC to consider action, experts told Lawyerly.
Construction PRO
The Port Authority of NSW has won its claim for public interest immunity over six cabinet documents in a suit by a defunct sand importer over a lease agreement for a mulit-user facility at Glebe Island, with a judge finding they had little forensic value.
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.
A rental company providing long-term leases for household items has been slugged with a $7.4 million penalty after a court found its loan agreements did not comply with credit laws.