Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  IMF Bentham Ltd    IMF   AU000000IMF0

IMF BENTHAM LTD

(IMF)
  Report  
End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 09/19
3.48 AUD   +1.75%
09/08IMF BENTHAM : Investor Presentation
PU
08/11IMF BENTHAM : US Investment – Settlement
PU
01/22Danske faces new investor lawsuit threat
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

IMF Bentham : S&P settles Australian lawsuit over Lehman Bros collapse

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/19/2016 | 11:16pm EDT
A man walks past the Standard and Poor's building in New York's financial district

SYDNEY (Reuters) - A substantial settlement has been reached in a landmark A$200 million ($143 million) class action brought against ratings agency Standard & Poor's, according to the law firm for the local governments, churches and charities bringing the suit.

London-based law firm Squire Patton Boggs said on Saturday that the settlement, which is subject to court approval, is likely to have widespread international ramifications for similar actions against Standard & Poor's (S&P) due to the number of products it rates throughout the world.

Financial terms of the settlement were confidential, Squire Patton Boggs said. Litigation funder IMF Bentham said it would generate revenue of about A$52 million and a pretax profit after capitalized overheads of around A$47 million as a result of the settlement.

The Federal Court lawsuit was brought by 92 Australian groups who had bought synthetic collateralized debt obligations issued by Lehman Brothers Australia between 2005 and 2007.

The applicants alleged Standard & Poor's engaged in misleading and deceptive conduct by assigning AA and AAA credit ratings to the Lehman Brothers products.

S&P denied the allegations. It could not immediately be reached for comment on the settlement.

"The outcome of this case has highlighted that organizations such as Standard & Poor's require transparency and accountability in the formulation of the credit ratings that they assign to financial products such as SCDOs," said Amanda Banton, a partner at Squire Patton Boggs.

Mick Wainwright, the leader of one of the local councils who took part in the class action, said the confidential settlement was "a welcome end to the monumental David and Goliath style action."

Wainwright said the agreement vindicated the lengthy international pursuit to recover funds.

The Federal Court found three years ago that Lehman Brothers Australia had engaged in misleading and deceptive conduct, breached fiduciary duties, breached contracts and acted in negligence toward plaintiffs.

The finalization of that matter enabled the launch of the class action against Standard & Poor's in 2013.

(Reporting By Jane Wardell; Editing by Tom Hogue)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on IMF BENTHAM LTD
09/08IMF BENTHAM : Investor Presentation
PU
08/11IMF BENTHAM : US Investment – Settlement
PU
03/09IMF BENTHAM : Canadian innovator JL Energy Transportation Inc. obtains funding f..
AQ
01/22IMF BENTHAM : Danske faces new investor lawsuit threat
AQ
01/22Danske faces new investor lawsuit threat
RE
2018Want to sue Venezuela for millions? These firms can help, for a price
RE
2018Australia's embattled AMP in unprecedented class-action feeding frenzy
RE
2018IMF (AUSTRALIA) LIMITED : Ex-dividend day for interim dividend
FA
2017Silent Partners - The bankrollers behind the rush of Australia shareholder la..
RE
2017IMF (AUSTRALIA) LIMITED : Ex-dividend day for final dividend
FA
More news
Financials (AUD)
Sales 2020 157 M
EBIT 2020 159 M
Net income 2020 54,5 M
Finance 2020 109 M
Yield 2020 2,73%
P/E ratio 2020 13,1x
P/E ratio 2021 14,4x
EV / Sales2020 3,85x
EV / Sales2021 3,19x
Capitalization 712 M
Chart IMF BENTHAM LTD
Duration : Period :
IMF Bentham Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends IMF BENTHAM LTD
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 3,77  AUD
Last Close Price 3,48  AUD
Spread / Highest target 14,9%
Spread / Average Target 8,24%
Spread / Lowest Target -5,17%
EPS Revisions
Managers
NameTitle
Andrew Saker Chief Executive Officer, Director & MD
Michael Graham Doveton Kay Non-Executive Chairman
Stuart Mitchell Chief Financial Officer
Hugh McLernon Executive Director
Michael Phillip Bowen Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
IMF BENTHAM LTD10.83%484
CHAILEASE HOLDING COMPANY LTD--.--%5 557
MITSUBISHI UFJ LEASE & FINANCE CO LTD26.41%5 285
POWER FINANCE CORPORATION LIMITED-4.61%3 754
FAR EAST HORIZON LTD-8.63%3 747
REC LTD11.91%3 670