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The Australian Securities & Investments Commission (ASIC) has filed charges against ANZ Bank, the nation’s third-largest lender, part of a groundbreaking legal case that relates to its $2.5 billion share placement in 2015 and the non-disclosure of material information to all shareholders.
The charges centre around the placement of 80.8 million shares at $30.95 each and the lack of disclosure that 25 million of these went to two of the three joint lead managers.
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The Melbourne-based lender, plus its two investment banks Citi and Deutsche Bank, are being sued in a related case ... (read more)