UBS Checks Jefferies Move To Poach Employees

Law360, New York (June 25, 2009, 12:00 AM EDT) -- UBS Securities LLC has won a temporary restraining order preventing rival Jefferies & Co. Inc. from continuing to raid the Swiss bank’s health care investment group, and has filed an arbitration proceeding against two defecting directors as well as Jefferies for poaching 34 other employees.

After oral argument on Wednesday, Justice Eileen A. Rakower of the Supreme Court of the State of New York issued the temporary restraining order to stanch the flow of bankers from UBS to Jefferies, while the spurned Swiss bank takes is...
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