Airbnb is accused of misleading consumers in Australia
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The Australian Competition and Consumer Commission filed a lawsuit against Airbnb (NASDAQ:ABNB) in which it accused the online travel company of misleading users into paying more than advertised for their stays.
The company is accused in a court filing of advertising and charging room rates in U.S. dollars without clearly indicating the much higher figures in Australian dollars.
Airbnb (ABNB) is also alleged to have refused to refund users who complained about being misled because they said they choose to view room rates in the U.S. dollars.
Since then, Airbnb (ABNB) has said that it will compensate the low percentage of affected guests and noted that it has updated the platform so that the relevant currency is more apparent.
Shares of ABNB fell 0.54% premarket on Wednesday to $122.24. Airbnb (ABNB) trades below its 50-day, 100-day, and 200-day moving averages.