$450m class action launched against NAB
Headline Legal News
A $450 million class action is being launched on behalf of National Australia Bank shareholders who lost money during the global financial crisis because of NAB's exposure to toxic debt.
Legal firm Maurice Blackburn will lodge the claim in a Victorian court tomorrow.
The firm 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 will allege that between early January and late July that year, NAB failed to properly disclose to shareholders all material information relating to its CDO exposure.
Related listings
-
Court Appoints Lawyer for Bernard Kilpatrick
Headline Legal News 11/03/2010It's the ongoing public corruption investigation that's led to charges against numerous city officials, including former Detroit Mayor Kwame Kilpatrick. It now appears his father could soon be at federal court, as well."The case looks like it's at a ...
-
BP expected to pay Florida $20M for seafood inspections
Headline Legal News 10/25/2010Florida Agriculture Commissioner Charles Bronson says BP will pay his department $10 million to strengthen its inspection operations to ensure that seafood taken from Gulf of Mexico waters is safe to eat.Bronson said Monday another $10 million from B...
-
Court won't speed challenge to MN disclosure law
Headline Legal News 10/04/2010A federal appeals court has declined to fast-track a challenge against a Minnesota law requiring disclosure of corporate political spending.In an order Monday, the 8th Circuit Court of Appeals denied a motion to expedite the case, and it scheduled or...
Victorville CA DUI Lawyers - Drunk Driving Defense Attorney
The outcome of a Victorville CA DUI defense will have a long-term effect on anyone’s life, making the decision to receive legal representation an easy one. The fact is, most people accused of a DUI are first offenders with no criminal background. Whether this is your first run in with the law or you have had previous convictions, you are in need of a DUI defense attorney.
If you fail a sobriety test or have a blood alcohol level above 0.8%, you are considered to be driving under the influence in which you will be arrested. During this time you will be read your Miranda rights and it is crucial to exercise your right to remain silent. As they say, “anything you say can and will be held against you in court.” The courtroom takes no mercy on drunk drivers and any statement you make during your arrest will only damage your case.