UBS Avoids Pension Fund Investment Suit For 2nd Time

Law360, Washington (August 1, 2012, 6:58 PM EDT) -- A New Jersey federal judge on Tuesday dismissed for the second time a class action against UBS Securities LLC over a pension fund's losses stemming from a $5 million mortgage-backed securities purchase, saying the plaintiffs' claims were time-barred.

Locals 306 and 612 of the International Union Of Operating Engineers – Employment Construction Industry Retirement Trust initially filed the suit claiming UBS, which underwrote the MBS offerings it obtained from loan originators Countrywide Home Loans Inc. and IndyMac Bank FSB, had failed to verify that registration documents...
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