UBS Wins Bid To Block Alleged Tax Evader's Arbitration

Law360, New York (March 7, 2011, 4:28 PM EST) -- A federal judge Monday blocked a New York toy salesman ensnared in a widespread tax evasion crackdown from pursuing an arbitration action against UBS AG blaming the Swiss bank for his alleged violations of U.S. tax laws.

Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York said he would issue a preliminary injunction barring Jeffrey Chernick from prosecuting his claims against UBS before the Financial Industry Regulatory Authority.

“I find that plaintiffs have shown a likelihood of success on...
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