Australia: Goulburn boss Gary Helou fined after Federal Court settlement approval
The Federal Court has approved a settlement reached between agricultural cooperative Murray Goulburn and the Australian Competition and Consumer Commission (ACCC), which will see the cooperative’s former managing director hit with a US$200,000 fine.
The Federal Court’s approval of the settlement also saw Murray Goulburn declare that it had breached Australian Consumer Law, however no financial penalties were sought from the former dairy processor.
The ACCC launched proceedings against Murray Goulburn last year, alleging it had engaged in unconscionable conduct and made false or misleading representations in breach of Australian consumer law.
In April 2016, after months of promising to raise the farmgate milk price, Murray Goulburn suddenly and retrospectively slashed milk prices, stunning its suppliers and leaving many hundreds of thousands of dollars in debt.
Full Content: The Sydney Morning Herald
Featured News
Turkey Fines Meta $10.4 Million for Abusing Market Dominance
May 6, 2024 by
CPI
Canadian Watchdog Launches Inquiry into Lululemon’s Greenwashing Practices
May 6, 2024 by
CPI
Massachusetts Supreme Court Deliberates Ballot Redefining Gig Worker Status
May 6, 2024 by
CPI
European Commission Approves Nippon Steel’s $14.9 Billion Buyout of U.S. Steel
May 6, 2024 by
CPI
Banco Sabadell Rejects Rival BBVA Merger Proposal
May 6, 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