Yes, but the issue is that the "sponsored links" appeared to point you to one site (which appeared to correlate to the name you were looking for), but actually took you to a competitor’s site - that sounds "misleading" to me.
http://theaustralian.news.com.au/story/0,,22065877-2702,00.html?from=public_rss
"The ACCC case stems from Google results that came up when searching for Kloster Ford and Charlestown Toyota in 2005. Those business names appeared in the headline for a link to the Trading Post, a competitor for car sales."
Google Australia may well have changed their practices now - I don' know - but the case relates to past behavior, which certainly seems to have been a bit "dodgy" on the face of the evidence.