2 weeks Ago By Cheyanne Enciso
Coles and Woolworths say they will defend a new class action relating to fake discount allegations from the competition watchdog. Launched on Thursday, law firm Gerard Malouf and Partners said the class action aimed to “secure financial redress” for consumers and estimated the payout to claimants could be between $200 and over $1300. In separate statements to the Australian Securities Exchange on Friday, Coles and Woolworths said they have been notified of the class action lodged with the Federal Court.
Coles said the class action related to allegations which were the subject of proceedings commenced by the Australian Competition and Consumer Commission in September. Cheyanne Enciso “Coles announced on 23 September 2024 that it is defending the ACCC proceedings, and also intends to defend the proceedings commenced by Gerard Malouf and Partners,” Coles said. In a similar statement, Woolworths said it “intends to defend the class action proceedings.
” The ACCC’s allegations centre on Coles’ “Down, Down” campaign and Woolworths’ “Prices Dropped” pitch, which were both promoted as a lifeline to families amid higher cost of living pressures. The claims involve nearly 270 products for Woolworths, and 245 products for Coles, amounting to “tens of millions” in sales from which both supermarkets “derived significant revenue”, the ACCC in September said..
