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Australia and New Zealand Banking Group may have hidden from investors that one client had potentially lost $650,000,000.

Click here if you have had similar experiences as those affected by this investigation.

Investigation Source (Case #08-cv-11278)

Stull, Stull & Brody

6 East 45th Street
New York, NY 10017

Investigation Scope

Nationwide

Category Information

Investigation Topics

Investments
False And Misleading Statements
Foreign Corporation
Lead Plaintiff Not Chosen

Products or Services

Investments
Common Stock

Injury Type

Monetary Loss

Investigation Details

Australia and New Zealand Banking Group Limited (ANZ) is Australia's leading finance company. Its services include retail banking, regional, rural and small business banking, consumer finance, mortgages, investments and insurance products.

Opes Prime Group Limited was a stock brokerage firm in Australia. ANZ loaned Opes $650,000,000 and had insufficient collateral to secure the loan. As the loan to Opes was going south and with Opes on the verge on bankruptcy, ANZ continued to state that all was well to investors, which artificially inflated the share price.

The day before ANZ announced its losses stemming from exposure to Opes Prime, its stock (ADRs) closed at a high of $17.24. The following day, after ANZ's announcement, ANZ's stock price dropped to $14.57.

ANZ's stock is currently trading at $9.90.

Defendant Details

Name (Stock Symbol)	Brief Description
Australia and New Zealand Banking Group Limited (ANZBY.PK)	Australia and New Zealand Banking Group Limited provides financial services in Australia and New Zealand.

Click here if you have had similar experiences as those affected by this investigation.

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