Court gives green light to $15 billion TPG-Vodafone merger

Australia's competition watchdog laments the loss of a "once-in-a-generation opportunity" for mobile consumers, but the Federal Court sees TPG rolling out its own network as a lost cause and is in favour of establishing a viable contender through a merger to take on Telstra and Optus even if it leads to greater market conce...

Rural Funds triumphs over short seller Bonitas in Supreme Court

The Supreme Court of New South Wales has handed down a judgement in favour of Rural Funds Group (ASX: RFF), finding US-based short seller Bonitas made false and misleading statements. The proceedings, launched in September 2019, relate to a short selling report published by Bonitas in August of the same year which saw the shares in Rural ...

Shine prepares another class action against AMP

Financial planning firm AMP (ASX: AMP) is staring down the barrel of yet another class action. Shine Lawyers (ASX: SHJ) announced this morning that it was preparing to file its second class action against AMP, accusing the company of putting profits ahead of an estimated 100,000 clients. The law firm alleges AMP Financial Planning bre...

Kleenmaid founder sentenced to nine years imprisonment

Andrew Young, a former director and founder of whitegoods distributor Kleenmaid, has been sentenced to nine years in jail for offences arising from the company's collapse more than a decade ago. Young was found guilty of 20 breaches of the law by a jury for offences including fraud and insolvent trading after a 59-day trial. His n...

Maurice Blackburn cracks open fresh case against Treasury Wine Estates

Class action law firm Maurice Blackburn has uncorked another investigation into Treasury Wine Estates (ASX: TWE), after poor US performance prompted a drastic cut to the company's FY20 forecast.  The move follows a successful class action against the Melbourne-headquartered vintner in 2017 that led to a $49 million settlment...

Westpac hit with US class action lawsuit

New York-based law firm Rosen Law Firm has filed a class action lawsuit against big four bank Westpac (ASX: WBC; NYSE: WBK) over the AUSTRAC scandal. The lawsuit seeks to recover damages for investors in the US on behalf of purchasers of Westpac securities on the New York Stock Exchange between November 11, 2015, and November 19, 2019 inc...

Gadens mulls iSignthis class action

National law firm Gadens is investigating a possible class action against payment identity verifier iSignthis (ASX: ISX), adding salt to the wounds of a company that has been suspended from trading since October and has a court case of its own pending against the ASX. The Melbourne-based fintech founded and led by CEO John Karantzis has c...

Macquarie staff and CEO in German short selling probe

Up to 60 current and former Macquarie staff including CEO Shemara Wikramanayake (pictured) have been confirmed as suspects in a German investigation into historical short-selling activities. As reported by the ABC, the investigation revolves around a legal loophole called "cum-ex trades" where two parties claim ownership of the ...

Colonial First State hit with class action over alleged excessive insurance premiums

Commonwealth Bank (ASX: CBA) subsidiary Colonial First State is now facing its third class action lawsuit as Shine Lawyers follows in the footsteps of Maurice Blackburn and Slater & Gordon. The law firm alleges customers were slugged excessive insurance premiums. Shine alleges on behalf of "thousands of Australians" that...

Class action launched against NAB alleging superannuation "rip off"

More than 330,000 account holders at National Australia Bank (ASX: NAB) will be represented in a class action lawsuit against the banking giant, alleging customers were paying more than they should have in fees. The class action, filed in the Victorian Supreme Court by law firm Maurice Blackburn this morning, has been launched on behalf o...

Trivago misled travellers by promoting more expensive hotels

Hotel comparison site Trivago has been found by the federal court to have misled consumers by promoting hotels that pay for the coveted top spot on the platform. If you've seen the endless ads run by Germany-based Trivago on TV or online, you'll know their prerogative is to help customers find the cheapest hotel rate possible. ...

Smoothie Bombs' 'cybersquatting' case is a lesson for every business owner

In this modern era, having a good product and a strong sales plan in place is just one part of the equation for retail success. As marketing, sales, promotion and products are more online than ever before, ensuring your intellectual property is in place and sufficiently protected is essential. One Australian founder learned this the h...

Former Guvera CEO banned from managing companies

Darren Herft, the former CEO of music streaming platform Guvera, has been banned from managing corporations for a period of two years by the Australian Securities and Investments Commission (ASIC). Herft's ban follows the failure of four companies within the Guvera group which collapsed in June 2017. Guvera was founded in 2008 by ...

Domino's to be served with fresh Federal Court claim by franchisee

Brisbane-based Domino's Pizza Enterprises (ASX: DMP) and its high-profile managing director Don Meij (pictured) will soon be served with a claim in the Federal Court by one of their long-term franchisees. As reported by The Courier Mail, the franchisee in question is Perth-based fast-food veteran Frederick Aloysius Mario White. Wh...

Blackbook.ai and IRIQ Law build AI legal advisor

Like seeing the dentist, booking an appointment with a doctor, or finding time to get your computer fixed, hiring a lawyer is often pushed into the Too Hard Basket. Complicated legalese, the looming bills, and the simple fact of time often intimidate many into simply moving on with life despite there being a good chance that a lawyer coul...

Volkswagen slammed with record $125 million penalty

German car manufacturer Volkswagen has been ordered to pay $125 million in penalties by the Australian Federal Court after breaching consumer law by making false or misleading representations. Volkswagen's $125 million fine is the largest total penalty order ever made by the Federal Court for contraventions of Consumer Law. The pe...

Phi Finney McDonald launches class action against Westpac

Westpac's (ASX: WBC) alleged 23 million contraventions of the Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF Act) continue to give the bank a pounding migraine. AUSTRAC's investigation into Westpac has fuelled the ire of shareholders, and Phi Finney McDonald will represent them in a class action against the big ...

NAB could face multi-billion dollar fine over alleged fees for no service conduct

The Australian Securities and Investment Commission (ASIC) isn't going easy on National Australia Bank (ASX: NAB) this holiday season. The watchdog announced yesterday that it has taken the big four bank to court over alleged fees for no service (FFNS) conduct, uncovered initially during the Royal Commission into the banking and finan...

Oscar Wylee accused of misleading customers about donating glasses to charity

Youth-leaning eyewear company Oscar Wylee has been taken to the Federal Court by the Australian Competition and Consumer Commission (ACCC) for allegedly misleading customers. The allegations revolve around a campaign run by Oscar Wylee during which the eyewear company said it would donate a pair of glasses to someone in need every time a ...

Federal Government to crack down on tech giants

A $27 million investment into the ACCC and a brand new code of conduct are part of the Federal Government's raft of reforms intended to crack down on unregulated American tech giants. The reforms come in response to the Australian Competition and Consumer Commission's (ACCC) Digital Platforms Inquiry, which slammed tech heavyweigh...

Supreme Court sets aside statutory demand against Smiles Inclusive

Within a week of having a major suit against it dropped, dental care company Smiles Inclusive (ASX: SIL) is today claiming victory in another legal matter. This morning the Supreme Court of Queensland set aside a statutory demand served by the former owners of Sydney-based Future Care Mobile Dentistry (FCMD), who sold their busi...

Coles to pay Norco dairy farmers $5.25 million after allegedly misleading consumers

Norco Co-operative Limited (Norco) dairy farmers will receive $5.25 million from Coles (ASX: COL) after the supermarket giant failed to pass on a 10c per litre price rise. The payment to Norco follows an investigation by the Australian Competition and Consumer Commission (ACCC) into whether Coles fully passed on to Norco a 10c per litre p...

Criminal charges laid against former BCU CEO

A former director and CEO of credit union BCU could face up to 10 years in jail if found guilty of criminal charges made against him by the Australian Securities and Investments Commission (ASIC). Lyndon Allen Kingston (pictured) was an executive - first as CFO and then CEO - at Coffs Harbour-based BCU for nine years and was a senior...

Optus hit with $6.4 million fine for misleading customers

A marketing email has cost telco Optus $6.4 million in penalties after the Federal Court determined it to be misleading. Following proceedings brought by the Australian Competition and Consumer Commission (ACCC), the Federal Court found that Optus made misleading claims about home internet disconnections to consumers. The case revolve...

Class action launched against Woolworths

Last month Woolworths Group (ASX: WOW) announced it had underpaid staff by about $300 million, but Adero Law alleges the figure is more like $620 million. A staff underpayment scandal that prompted reprimands from the Fair Work Ombudsman and led to executive pay cuts has just turned up a notch for Australia's largest retaile...

Bellamy's settles historical class actions

Infant formula producer Bellamy's (ASX: BAL) has settled two class actions dating back to early 2017. The total settlement amount for both proceedings comes to $49.7 million, which the company says will have no impact on its financial results at any time. Both class actions relate to historical market disclosures that occurred in ...

"An exercise in Orwellian doublespeak": Dover Financial Advisers found guilty

The Federal Court has handed down its decision against Dover Financial Advisers, finding the company and its sole director guilty of false, misleading or deceptive conduct on 19,402 occasions. The case arose from an Australian Securities and Investment Commission (ASIC) investigation, with the watchdog alleging that Dover misled and decei...

Westpac CEO and chairman step down amid AUSTRAC allegations

Westpac Group (ASX: WBC) CEO Brian Hartzer and chairman Lindsay Maxstead will step down in the wake of legal controversy surrounding the bank. Hatzer's resignation follows allegations from AUSTRAC that the banking group contravened the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) on more than 23 million ...

"Justice for thousands" as Shine wins implant class action against Johnson & Johnson

A class action seven years in the making has delivered "justice for thousands" after Shine Lawyers (ASX: SHJ) defeated Ethicon and Johnson & Johnson in the Federal Court today. The two medical implant giants have been found liable in negligence and for breaches of the Trade Practices Act and the Competition and Consumer Act ...

NAB settles credit card insurance class action for $50 million

NAB (ASX: NAB) has reached a settlement with class action law firm Slater & Gordon, paying $49.5 million toward customer remuneration. The class action saw Slater & Gordon allege that NAB sold "worthless" credit card insurance (CCI) to customers. The law firm claimed most people were sold the insurance over the phone...