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

The maximum penalty under the court decision is A$1 million, the country's third-largest lender said on Friday, adding that it was reviewing the judgment. 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.