ARS Investors Seek Lead Plaintiff Swap In UBS Case

Law360, New York (May 27, 2009, 12:00 AM EDT) -- A group of investors leading consolidated litigation against UBS AG over the collapse of the auction rate securities market has moved to step aside as lead plaintiff in the action after a judge ruled the group had forfeited its right to damages in accepting a buyback offer from the investment bank.

The seven-member group, dubbed the Chandler Group, filed a motion in the U.S. District Court for the Southern District of New York on Tuesday for an order consenting to its withdrawal and substituting the so-called...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.