UBS Can't Blame Highland Affiliates For $686M In Losses: Atty

Law360, New York (February 22, 2012, 7:11 PM EST) -- A Highland Capital Management LP attorney urged a New York state appeals court Wednesday to dismiss its affiliates from UBS AG's $686 million lawsuit claiming the affiliates tricked UBS into restructuring a debt securities agreement, then made repayment impossible.

UBS affiliate UBS Securities LLC can't sue Highland Capital's affiliates because the chain of events they allege in their complaint are all rooted in Highland Capital's own actions — and the appeals court has already tossed Highland Capital from the suit, according to Highland Capital attorney Kieran...
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