UBS Hit by Another Lawsuit
Swiss bank UBS, already smarting from one investor lawsuit, is facing allegations from a hedge fund that it marketed securities as investment grade that the bank knew were destined for junk status. Pursuit Partners, a Stamford (Conn.)-based hedge fund, claims in a Mar. 5 lawsuit that it bought collateralized debt obligations, or CDOs, from UBS last year based on "fraudulent concealment" of material information.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.