Amaysim Australia (ASX:AYS) today announced that the proceedings brought by the Australian Competition and Consumer Commission (ACCC) against Click Energy have been resolved.
Amaysim owns Click Energy.
It was agreed that Click Energy contravened Australian Consumer Law in relation to statements it made about discounts and savings that consumers in Victoria and Queensland could obtain on its energy products.
The Federal Court ordered a penalty of $900,000 and for Click Energy to take a number of steps such as displaying a message on its website and contacting affected customers.
The penalty does not impact the company’s FY19 full year underlying EBITDA guidance.
Shares in Amaysim Australia (ASX:AYS) are trading 0.79 per cent higher at 64 cents.