Kogan (ASX:KGN) busted for misleading promo, fined six figures

Kogan.com Ltd (ASX: KGN) has been ordered to pay a $350,000 fine for making false or misleading representations about a sale.

The Federal Court found the company’s subsidiary, Kogan Australia Pty Ltd, misled customers by jacking up the prices of 621 products immediately before a ‘tax time’ sale.

The online retailer then ran a sales promotion offering customers the code ‘TAXTIME’ to use at checkout for a 10% discount.

“Consumers who used the promotional code to purchase these products paid the same as, or more than, they would have paid before or after the promotion,” said Australian Competition and Consumer Commission chair, Rod Sims.

“Consumers were not receiving a genuine 10% discount as promised, and this…