UBS Asks US Court to Toss Hayes’ $400 Million Libor Suit

UBS Group AG asked a US court to dismiss a suit filed by its ex-trader Tom Hayes that accuses the lender of handing him over on a “silver platter” to global prosecutors in order to protect the bank and its senior leadership during the Libor rigging scandal.

Lawyers for the Swiss bank told the Connecticut court that Hayes’ claims are “spurious” and his decision to file in the state “despite being an English citizen who was tried and convicted in England is quintessential forum shopping.”