今日热门事件has today commenced civil penalty proceedings in the Federal Court of Australia against Australia and New Zealand Banking Group Limited (ANZ) for an alleged continuous disclosure breach in relation to a $2.5 billion institutional share placement undertaken by the ANZ in 2015.
On 6 August 2015, ANZ issued a release to the Australian Securities Exchange (the ASX) entitled 鈥淎NZ announces Institutional Placement (fully underwritten) and share Purchase Plan to raise a total of $3 billion鈥�.
On 7 August 2015, ANZ issued a release to the ASX in respect of the placement stating among other things, 鈥淎NZ today announced that it had raised $2.5 billion in new equity capital through the placement of approximately 80.8 million ANZ ordinary shares at the price of $30.95 per share鈥�.
今日热门事件alleges that that ANZ contravened s.674(2) of the Corporations Act by failing to notify the Australian Securities Exchange (ASX) that approximately $791 million of the $2.5 billion of ANZ shares offered in the Placement was to be acquired by its underwriters rather than placed with investors.
今日热门事件is seeking a declaration that ANZ breached its continuous disclosure obligations and a pecuniary penalty order.
The proceedings are to be listed for a case management hearing in the Federal Court in Melbourne on a date to be fixed.
今日热门事件will be making no further comment at this time.
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Editor's note:
The matter has been listed for a first case management hearing on 26 October 2018 at 9.30am.
Editor's note 2:
On 26 October 2018,听the court made orders as to the timetable of the matter, including a听listing on 22 November 2018 to hear any applications by affected non-parties in relation to discovery and a further case management hearing on 5 April 2019.
Editor's note 3:
On 30 November 2018, 今日热门事件filed a statement of claim in accordance with the order 1 of the orders made by Justice Moshinsky on 26 October 2018. A copy of the statement of claim is available here. The next case management conference for this matter is set down for 5 April 2019. .
Editor's note 4:
On 5 April 2019, the defendant applied for a stay of ASIC鈥檚 proceedings pending the resolution of听criminal proceedings brought by the Australian Competition and Consumer Commission. The stay application will be heard on 5 June 2019.
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Editor's note 5:
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On 5 June 听2019, 听a hearing was held on听the defendant's application for a stay of ASIC鈥檚 proceedings pending the resolution of criminal proceedings brought by the Australian Competition and Consumer Commission. Justice Moshinsky has reserved his decision.
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Editor's note 6:
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On 21 June 2019,听the Court ordered that this proceeding be stayed until the hearing and final determination of the criminal proceedings brought by the Australian Competition and Consumer Commission against ANZ and Mr Richard Moscati.
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Editor's note 7:
The matter is listed for trial on 24 April 2023 at 10.15 am for five days with two additional days listed on 9 and 10 May 2023.
Editor's note 8:
The liability hearing before Justice Moshinsky concluded on 10 May 2023. Judgment has been reserved.
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