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A Marshall Islands-based binary options trader has been hit with a $1.8 million penalty after a judge found it engaged in the “deliberate deception of vulnerable people”.
ACCC clears $120M AFG, Connective merger
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The competition cop has given its blessing to Australian Finance Group’s $120 million acquisition of rival Connective Group, after raising concerns the deal could squeeze smaller players out of the mortgage aggregator market.
ACCC sweating the details of Google’s $3B Fitbit purchase
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The competition regulator has raised concerns about Google’s planned acquisition of fitness device company Fitbit, saying the $3 billion tie-up could further cement the dominance of the search engine giant in online advertising.
Energy companies face $1B class action over alleged ‘bidding games’
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Queensland’s two largest electricity generators are facing a potential class action over alleged “bidding games” designed to artificially inflate consumers’ electricity bills.
Workpac takes casual worker case to High Court
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Labour hire company WorkPac has asked the High Court to weigh in on a decision that grants entitlements to casual workers with regular shifts, a ruling it says could have a “devastating impact” on companies if allowed to stand.
Law firms livid as powerful US group throws money into class action debate
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A powerful US business lobbying group should not be allowed to influence Australian politicians as they consider reforms to the country’s class action regime, two leading plaintiffs firms have said. But a lawyer for the group said singling it out was hypocritical given how many overseas litigation funders have hired firms to represent their interests in the current class action debate.
More law firms to be dragged into Dover Financial negligence case
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More law firms may soon be targeted in a lawsuit brought by defunct financial advisor Dover Financial alleging three law firms provided negligent advice concerning an inaptly titled ‘client protection policy’, which a judge recently found was “highly misleading” and “an exercise in Orwellian doublespeak”.
Employers guilty of wage theft face 10 years in jail under new law
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The Victorian Labor Government has successfully passed a landmark bill which makes the failure to properly pay workers a criminal offence punishable by up to 10 years in prison for guilty business owners.
University sued for firing cancer researcher with chronic back pain
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A prominent Australian cancer researcher is suing the University of Technology Sydney for $744,000, alleging she was unfairly sacked after taking multiple periods of leave due to a physical disability.
Judge tells AUSTRAC to ‘guillotine’ Westpac case as it readies more claims
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A judge has warned AUSTRAC that it needs to finalise its case against Westpac over anti-money laundering breaches as the regulator readies a slew of new claims, quashing any hopes of a trial this year.