$450 million class action by NAB Shareholders

A $450 million class action is being launched on behalf of National Australia Bank shareholders against National Australia Bank (NAB).Legal firm Maurice Blackburn will lodge the claim in a Victorian court tomorrow.

Maurice Blackburn says NAB had bought $1.2 billion in collateralised debt obligations (CDO) in 2006 which had a heavy exposure to the US sub-prime housing market.

It is alleged that between early January and late July that year, NAB failed to properly disclose to shareholders all material information relating to its CDO exposure.

Do you think that shareholders have a chance at winning this case? Read full article.

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