National Australia Bank Class Action Dismissed

Sydney, Australia: Shareholders tried to file a class action lawsuit against the bank related to its $3 billion HomeSide write-down of the mortgage originator in 2001. Holders of depositary receipts also claimed violations of US Federal securities laws. The US District Court for the Southern District of New York has dismissed the case noting it had no jurisdiction over claims made on behalf of ordinary shareholders. (Oct-27-06) [SYDNEY MORNING HERALD: NAB DISMISSED]