UBS Must Pay CNA Exec $2.2M For Lehman Losses

Law360, New York (December 23, 2010, 8:04 PM EST) -- An arbitration panel reportedly has ruled that a UBS AG subsidiary must pay more than $2.2 million to the head of insurer CNA Financial Corp. for personal investment losses related to so-called structured products underwritten by now-defunct Lehman Brothers Holdings Inc.

A Financial Industry Regulatory Authority arbitration panel issued a decision Monday in favor of CNA chairman and CEO Thomas F. Motamed, who filed an arbitration case with his wife in 2009 against UBS Financial Services Inc. for selling the notes, according to a Dow Jones...
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