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The corporate regulator has taken the country’s largest superannuation fund, AustralianSuper, to court for allegedly causing $69 million in losses to customers by failing to merge multiple superannuation accounts.
Care A2 tries again to block Gensco’s US suit over baby formula deal
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Infant formula giant Care A2 will try again to block business partner Gensco from bringing claims against it in a US court that overlap with a $200 million Australian lawsuit over a deal to sell formula in the US.
ME Bank pleads guilty to misleading borrowers, says crime didn’t hurt anyone
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Direct bank Members Equity has pleaded guilty to criminal charges over misleading representations to customers, but a judge has questioned the bank’s submissions in favour of a low penalty, noting it was only “happenstance” that a systems glitch didn’t lead to worse outcomes for customers.
WA home builder to face class action over construction delays
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Perth-based homebuilder BGC Housing Group will face a class action on behalf of thousands of home owners who allege they have been harmed by lengthy construction delays.
Barrister loses High Court leave bid in fee spat with solicitor
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The High Court has rejected an application by a Sydney barrister to hear his case over $320,000 in disputed fees, saying the appeal was not a suitable case for ventilating issues over the operation of terms in costs agreements rendered void.
High Court won’t disturb insurers’ win in Pacific Highway case
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The High Court won’t hear an appeal in a case by Acciona and Ferrovial against three insurers over coverage for loss and damage resulting from heavy rainfall at the site of construction of the Pacific Highway in northern New South Wales.
PayPal taken to court over 60-day deadline for complaints
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The corporate regulator has filed a suit against fintech giant PayPal over a term in its contracts with small businesses that sets a deadline for complaints about excess fees.
ACCC takes action over eHarmony’s ‘subscription trap’
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The Australian Competition and Consumer Commission has taken eHarmony Inc to court, alleging the dating site misled users about its advertised ‘free dating’ membership and that its automatic renewal was a “subscription trap”.
Swift Networks cops $1.2M penalty for rigging bids
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Telco Swift Networks has been hit with a $1.2 million penalty for bid rigging and price fixing in the tender process for supplying IT and communications equipment for three Rio Tinto and Fortescue Metals mining projects in WA’s Pilbara region.
ASIC wins case against digital lender Ferratum
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The Australian Securities and Investments Commission has won its case against Finnish microloan company Ferratum alleging it overcharged vulnerable, low-income consumers during the height of the COVID-19 pandemic.