Online trader Plus500 is seeking to stay a class action on behalf of investors who lost money trading in highly leveraged financial products, telling a court the applicant signed an agreement forcing the dispute into arbitration.
JB Hi-Fi has lost its bid for a hearing on a separate question in a class action over allegedly worthless warranties, with a judge saying the novel question has not been considered by the High Court and could lead to appeals.
The Australian Competition and Consumer Commission is looking into energy companies’ promotional materials after consumer advocacy group CHOICE complained that offers of savings are designed to overwhelm and confuse while not offering real value.
Google has agreed to pay a $55 million penalty for making anti-competitive agreements requiring Telstra and Optus to pre-install Google Search on Android devices they sold.
After more than a year on ice, two class actions against age care facilities over COVID-19 outbreaks are set to resume late this year, following a month-long criminal trial that kicks off next week.
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.