As UBS AG board members gathered in Sydney last year to consider the bank’s fate, they joined 200 clients to drink champagne, eat canapes and mingle among beds of anthurium with purple spadixes jutting into the air.
The four largest U.S. railroad companies won their bid to reverse a ruling that turned a price- fixing lawsuit against them by shippers into a group lawsuit with potential damages of at least $10 billion.
James Hardie Industries SE, a seller of building products, misled investors about funding asbestos- related claims and seven directors breached their duties by approving the statements, Australia’s top court ruled.
Newcrest Mining Ltd., Australia’s largest gold producer, named Sandeep Biswas as chief executive officer in a boardroom clean out after a A$6.2 billion ($5.9 billion) writedown triggered a regulatory probe.
Regulators cleared Nasdaq OMX Group Inc.’s plan to pay $62 million to compensate brokers for its mishandling of Facebook Inc.’s public debut, dealing a defeat to Wall Street firms that say they lost many times that amount.
Australia’s securities regulator will attend analyst meetings at about 20 companies next month as part of a clampdown on selective briefings, after questions were raised about broker coverage of Newcrest Mining Ltd.