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flag Former ANZ CEO Shayne Elliott sues over $13.5M bonus cut tied to $240M penalty and customer harm.

flag Former ANZ CEO Shayne Elliott is suing the bank in New South Wales Supreme Court over a $13.5 million bonus cut, citing regulatory issues including a $240 million penalty for misconduct like unconscionable conduct in a government bond deal and harm to nearly 65,000 customers. flag The board denied short-term bonuses to Elliott and his successor, Nuno Matos, and canceled unvested incentives, stating pay must align with risk and performance. flag ANZ says the decision was deliberate and will defend the case vigorously.

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