Harvey Norman and Latitude Group fined $55M
· The Federal Court fined Harvey Norman and Latitude $55 million for failing to disclose mandatory account fees.
· Harvey Norman shares traded up at $35 million of the total financial penalty.
· The Federal Court stated these specific penalties were designed to strictly deter future non-compliant payment promotions.
The Federal Court fined Harvey Norman (ASX:HVN) and Latitude Group Holdings (ASX:LFS) $55 million over undisclosed mandatory fees.
The final penalties fall slightly below the $85 million total that regulators initially requested during October 2024 hearings.
The joint marketing campaign operated across major Australian media formats between January 2020 and August 2021.
Court documents revealed the two retailers generated an estimated $5 million financial benefit from the non-compliant disclosures.
Following the announcement, the Harvey Norman share price was up at $4.76, while both retailers began mandatory disclosure periods.
Latitude recently overhauled its internal compliance operations and issued formal apologies to customers regarding the historical billing structure.
The court stated that Harvey Norman demonstrated no contrition and implemented no structural changes following a September 2025 appeal.
