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Town North Bank, NA v. Shay Financial Services, Inc. et al
Case Number:
3:11-cv-03125
Court:
Nature of Suit:
Judge:
Firms
Companies
Sectors & Industries:
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September 30, 2014
UBS, Others Buck $113M MBS Suit As Judge Changes Course
A Texas federal judge on Tuesday reversed his prior ruling and dismissed a $113 million complaint that accused Merrill Lynch & Co., UBS Financial Services Inc. and others of failing to disclose risks in their mortgage-backed securities, saying his further review of the case showed the claims can't move forward.
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April 30, 2013
UBS Seeks To Appeal Disclosure Ruling In $113M MBS Suit
UBS Financial Services Inc, Morgan Stanley & Co. LLC and others sought permission Monday to appeal a finding that they may have had a duty to disclose risks in their mortgage-backed securities to a Texas bank that says it lost $113 million because of their misrepresentations.
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November 14, 2011
Texas Bank Hits UBS, Others With $113M MBS Suit
Texas-based Town North Bank NA on Friday accused UBS Financial Services Inc., Morgan Stanley & Co. LLC and others of costing Town North approximately $113 million by misrepresenting the quality of their mortgage-backed securities.