Aussie lender ANZ loses case over troubled 2015 share placement worth $1.6 billion
© Reuters. FILE PHOTO: A pedestrian is reflected in the window of a branch of the Australia and New Zealand Banking Group in central Sydney, Australia, October 25, 2017. Picture taken October 25, 2017. REUTERS/Steven Saphore/File Photo - Australia's ANZ Group acknowledged a Federal Court decision that said the bank should have advised the market of the joint lead managers bought shares in its 2015 institutional share placement worth A$2.5 billion .
The Australian corporate watchdog in 2018 sued ANZ over the share placement, saying that the bank broke company laws by failing to tell investors that its underwriters had bought A$791 million of the A$2.5 billion shares it was trying to sell.
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