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.
A senior ANZ executive was ādeeply concernedā 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 ASICās civil penalty case against the bank over alleged disclosure breaches.
Last year saw the lowest number of new class action filings in Australia since 2016, according to a new report.
KPMG has hit back at a shareholder class action over allegedly misleading statements made ahead of CuDecoās collapse in 2020, placing blame on the defunct mining company, its directors and group members themselves.Ā
Construction firm CIMIC has won its bid to view identifying information about institutional investors in a shareholder class action, despite the applicant’s claims it could deter group members from signing on to the case.Ā
Gold Coast āfinfluencerā Tyson Scholz has been permanently barred from conducting a financial services business without a license, after a court found he provided illegal financial services by giving tips on his Instagram account and to customers who paid for access to his seminars and āBlack Wolf Pitā chat room.
A judge has approved a walk-away settlement with two former directors of RCR Tomlinson in a shareholder class action against the failed engineering company.
Infrastructure services company Downer EDI has been hit with a class action after revealing “accounting irregularities” that sent its share price tumbling.
A shareholder class action against Medibank has claimed it did not disclose āserious deficienciesā in its cybersecurity measures, including failing to implement security measures such as multi factor authentication, causing investors to buy shares at inflated prices.Ā
Westpac has hit back at a bid by ASIC to add an allegation to the regulator’s insider trading case that hinges on the bank providing financial services when it traded on the morning of a $16 billion deal to privatise electricity provider Ausgrid.