ACCC lose Lyoness pyramid scheme case
Following a judgement hearing held a few hours ago, we can now report that the ACCC’s pyramid scheme case against Lyoness has been dismissed.
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION
LYONESS AUSTRALIA PTY LIMITED and others named in the schedule
THE COURT ORDERS THAT:
1. The proceeding is dismissed.
2. The Applicant (ACCC) is to pay the costs of the Respondents.
More info once the judgement is made available. Standby…
Update 26th October 2015 – Justice Flick’s judgement has been published.
The dismissal of the case isn’t so much about Lyoness not being a Ponzi scheme, such as it is the ACCC’s failure to make AU investment the focal point of their complaint.