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ANZ says bailout by underwriters of $2.5B share placement not relevant to ASX
Securities 2024-05-23 11:41 pm By Sam Matthews

Challenging a ruling that it breached its continuous disclosure obligations, ANZ has argued on appeal that it did not need to inform the ASX of a bailout by the underwriters of a 2015 institutional share placement because the information didn’t go to the fundamental value of its shares.

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ANZ appeals disclosure breach finding over $2.5B share placement
Financial Services 2023-12-14 4:58 pm By Christine Caulfield

ANZ will appeal a ruling that it breached its continuous disclosure obligations when it failed to inform the ASX of a bailout by the underwriters of a 2015 institutional share placement.

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ANZ hit with $900,000 penalty for share placement disclosure failures
Securities 2023-12-08 3:38 pm By Christine Caulfield

ANZ’s failure to disclose a bailout by banks underwriting a $2.5 billion share placement has resulted in a penalty of less than $1 million, ending an eight-year saga that included an aborted criminal trial.

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ANZ breached continuous disclosure rules during $2.5B share placement, court finds
Securities 2023-10-13 5:08 pm By Cindy Cameronne

A judge has found that ANZ breached continuous disclosure rules by failing to disclose a $750 million bailout by underwriters Deutsche Bank, Citigroup and JP Morgan during its $2.5 billion equity capital raising in August 2015.

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ANZ, Citigroup execs defend book coverage despite receding demand in $2.5B capital raising
Trials 2023-04-27 11:57 pm By Sam Matthews

Two executives involved in ANZ’s $2.5 billion equity capital raising have stood by arguments that the book was covered when the bank’s underwriters took up $750 million of the shares, despite ASIC’s allegations of “receding demand” on the day of the placement.

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‘The book was covered’: ANZ fights ‘entirely novel’ ASIC case over $2.5B share placement
Trials 2023-04-26 11:18 pm By Sam Matthews

ANZ has told a court it had no obligation to disclose a $750M bailout by the underwriters of a $2.5B equity capital raising in 2015, in ASIC’s case alleging the bank breached its continuous disclosure obligations by failing to alert the market to the bailout.

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ANZ exec ‘deeply concerned’ about $2.5B share placement shortfall, court hears
Trials 2023-04-24 10:03 pm By Sam Matthews

A senior ANZ executive was “deeply concerned” by the size of the shortfall in its $2.5 billion 2015 equity capital raising, the court heard on the first day of trial in ASIC’s civil penalty case against the bank over alleged disclosure breaches.

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The top litigation law firms of 2022
Litigation Law Firms of the Year 2023-03-03 6:35 am By Cat Fredenburgh

Lawyerly’s Litigation Law Firms of 2022 racked up precedent-setting victories in a year that continued to see major developments in class action law.

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WA government will try to snuff out Clive Palmer’s $30B lawsuit
Dominic Villa 2022-11-23 5:45 pm By Cindy Cameronne

The West Australian government has flagged a bid to scuttle mining magnate Clive Palmer’s latest lawsuit claiming he can sue the state for up to $30 billion over mining tenements in the Pilbara.

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Viterra to pay $168.9M for misleading Cargill during Joe White sale
Corporate 2022-02-17 2:05 pm By Cat Fredenburgh

Grain producer Viterra will be ordered to pay Cargill Australia $168.9 million after a judge found the Glencore-owned company  misrepresented the performance capabilities of malt producer Joe White when it sold the company for $420 million in 2013.

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