UBS Pays $45M To Settle ClearOne ARS Arbitration Row

Law360, New York (January 16, 2013, 6:22 PM EST) -- Investment banking giant UBS Financial Services Inc. has agreed to pay $45 million to resolve arbitration claims over auction rate securities that it sold to Salt Lake City-based audio conferencing products company ClearOne Communications Inc., UBS said in a statement Wednesday.

The settlement was reached Dec. 10 but was kept confidential until its similar dispute with Morgan Stanley & Co. before a different arbitration panel could be resolved, ClearOne said in the Wednesday statement. Its claims against Morgan Stanley over auction rate securities that it had...
To view the full article, register now.