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Insurance Australia Limited is facing a class action alleging it engaged in misleading and deceptive conduct by pushing worthless add-on insurance onto individuals purchasing motor vehicles through authorised dealers.
ACCC brings criminal cartel charges against money transfer business
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The Australian Competition and Consumer Commission has brought criminal cartel charges against a money transfer business and five individuals for allegedly fixing the foreign exchange rate on millions of dollars transferred between Australia and Vietnam between 2011 and 2016.
Judge fines CFMMEU, official for making a stink over dirty worksite toilet
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A judge has slapped fines of $33,350 against the Construction, Forestry, Maritime, Mining and Energy union and a high-ranking official who pinned a project manager against a fence in a fight over a filthy portable toilet at a construction site in Adelaide.
ALRC to tackle ‘comprehensive’ review of corporate crime laws
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Months after submitting its final report on the country’s class action regime, the Australian Law Reform Commission has been tasked with undertaking a “comprehensive” review of the effectiveness of the country’s corporate crime laws, including whether the criminal code should be altered to make senior executives liable for company misconduct.
Judge can’t be mediator too, court says in ex-Macquarie advisers’ wage case
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A judge has refused a bid by Macquarie Bank and a group of former financial advisers to preside over a mediation of their spat over $2.6 million in wages, saying a judge can’t act as a mediator and he wouldn’t do it even if he could.
CBA customers offered $9.3M for bad financial advice
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The Commonwealth Bank of Australia has offered $9.3 million since 2014 to customers that suffered loss when advisers in two of its financial planning units put their money into high-risk investments without their permission.
AMS liable after putting its name on faulty mesh implants, class action claims
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By putting its name on allegedly defective vaginal mesh implants, American Medical Systems held itself out as the manufacture of those devices, according to an amended class action pleading that addresses the medical device maker’s assertion that a subsidiary made the devices after May 2012.
Victoria’s Secret resolves lawsuit over knockoff body spray
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US lingerie company Victoria’s Secret has reached a settlement in a lawsuit over the sale of knockoff products that mimic the get-up of its trade marked body care products.
Sandoz, F. Hoffman La-Roche settle patent dispute over biosimilar
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F. Hoffman La-Roche has reached a settlement in a patent lawsuit over Sandoz’s plan to market a biosimilar version of its patented biologic used to treat various cancers and rheumatoid arthritis.
IPH throws down the gauntlet with revised Xenith takeover bid
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The takeover battle for Xenith IP has entered round two, with IPH submitting a revised proposal to acquire the IP services firm in full, leaving fellow suitor QANTM with three days to lodge a competing offer.