Big corporations should take note of a A$115 million settlement of a class action against the National Australia Bank, law firm Maurice Blackburn says.
About 15,000 NAB shareholders took legal action against NAB after it sustained heavy losses related to toxic subprime home loans in the United States.
NAB said it would pay $85 million to settle the case, pending court approval.
Law firm Maurice Blackburn, which led the case against NAB, said the total amount payable was A$115 million, ($147 million), including interest and costs.
"It's the biggest company in Australian history to pay a class action settlement of this size: over $100 million," Maurice Blackburn principal Jacob Varghese said.