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What will be the financial penalty imposed on Coles and Woolworths if ACCC wins the lawsuit by end of 2024?
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Resolution / Starting Odds
Less than $50 million • 25%
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Publicly available court records and official announcements from ACCC
Story
ACCC Sues Coles and Woolworths in Blockbuster Court Case Over Misleading Discount Claims
Sep 23, 2024, 01:06 AM
The Australian Competition and Consumer Commission (ACCC) has launched legal proceedings in court against Coles and Woolworths, Australia's two largest supermarket chains, over allegations of misleading discount claims. The ACCC accuses the retailers of promoting false discounts on hundreds of common supermarket products through their 'Down Down' and 'Prices Dropped' campaigns. Australian Prime Minister Anthony Albanese commented on the seriousness of the allegations, noting that overcharging for products can impact inflation. This case is seen as a blockbuster move by the ACCC.
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