The bank failed to overturn last year’s Federal Court judgment on a capital raising from almost a decade ago that was the subject of a criminal cartel case.
ANZ breached its continuous disclosure obligations during a controversial $2.5 billion equity capital raising almost a decade ago, that was the subject of a criminal cartel case, the Federal Court ruled on Wednesday morning as it struck out the bank’s appeal.
ANZ was found to have breached its continuous disclosure obligations during a controversial $2.5 billion equity capital raising almost a decade ago.In a judgment handed down on Wednesday morning, Justices Brigitte Markovic, Michael Lee and Catherine Button dismissed ANZ’s appeal, and ordered the bank to pay the corporate regulator’s costs. The Federal Court last year handed down a $900,000 fine in December.
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