Australian firm Piper Alderman has secured a key court victory in a case brought against ratings agency Standard & Poor’s (S&P) and Dutch bank ABN Amro by investors who claimed they were misled about financial products.
An Australian federal court this Monday (5 November) ruled in favour of a group of local councils in New South Wales, which brought claims against S&P, ABN and Local Government Financial Services (LGSF) after losing more than 90% of their investment in S&P-rated products created by ABN.
