The competition watchdog has installed an independent auditor to a chain of men’s sexual health clinics to ensure it complies with court orders preventing it taking advantage of clients.
NRM Corporation, which trades as Advanced Medical Institute, will be subject to a wide-ranging audit after the Federal Court declared there was a “high likelihood” that its founder and owner, Ukrainian-born Jacov Vaisman, would not comply with orders previously handed down.
In April, the court found the business had engaged in unconscionable conduct, having exploited customers’ vulnerability for its own commercial gain.
Between 2008 and 2009, AMI brought in more than $130 million selling nasal sprays that claimed to cure male sexual problems, such as impotence, by using aggressive sales tactics designed to frighten prospective customers. As part of the original orders, restrictions were placed on AMI’s operations.
Full content: The Australian
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC to Approve Exxon’s $64 Billion Deal with Pioneer Resources, Excludes
May 1, 2024 by
CPI
UK Competition Watchdog Raises Alarm Over Nvidia’s ARM Takeover
May 1, 2024 by
CPI
Sen. Klobuchar Urges Regulators to Probe Collusion in Health Care Pricing
May 1, 2024 by
CPI
Multiple States Join Tennessee’s Antitrust Lawsuit Against NCAA Over NIL Rules
May 1, 2024 by
CPI
NY AG Joins Suit Challenging NCAA’s Restrictions on Student Athlete NIL Rights
May 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI