UBS Lawyer Quits Amid ARS Scandal

Law360, New York (August 4, 2008, 12:00 AM EDT) -- UBS AG has accepted the resignation of General Counsel David Aufhauser amid reports that he is an unnamed defendant in a multibillion-dollar lawsuit filed by New York's attorney general over the bank's involvement in the ill-fated auction rate securities market.

Aufhauser, who served as general counsel to UBS' investment banking unit and interim co-group general counsel of UBS AG, would stay on as a consultant until Sept. 30 to ensure “continuity,” the bank's chairman and chief executive said in a joint internal memo to staff on...
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