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Aussie lender ANZ loses case over troubled 2015 share placement worth $1.6 billion

The country's Federal Court found the third-largest lender guilty of breaking disclosure laws by failing to notify the market that between A$754 million and A$791 million of the shares were acquired by its underwriters instead of being placed with investors. The Australian Securities and Investments Commission (ASIC) in September 2018 sued ANZ over the issue, while the competition regulator in June 2018 filed criminal cartel charges against the lender and its two investment banks, Citigroup Inc and Deutsche Bank AG. ....

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