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Mining giant Rio Tinto has been ordered to pay a $750,000 penalty in ASIC's case over a disclosure breach linked to its $5.8 billion purchase of a Mozambique coal mining company.
The Australian Securities and Investments Commission has dropped all but one claim against Rio Tinto in a four-year-long case over disclosures related to its troubled $5.8 billion acquisition of a Mozambique coal mining business and abandoned all claims against the mining giant's former CEO and CFO.
Deloitte Touche Tohmatsu has succeeded in striking out claims that it made misrepresentations to Rio Tinto when it appointed a partner nearing the mandatory retirement age to a five-year project with the mining giant.
Deloitte Touche Tohmatsu has asked a court to toss a majority of claims in a lawsuit brought by 63-year-old partner Colin Brown over the firm's alleged discriminatory retirement policy that he claims has cost him almost $4 million.
A 63-year-old partner of Deloitte Touche Tohmatsu is suing the accounting giant and CEO Richard Deutsch alleging the firm's mandatory retirement policy is discriminatory and has cost him almost $4 million.