UBS, Jefferies Make Peace Over Talent Raid

Law360, New York (July 10, 2009, 12:00 AM EDT) -- UBS Securities LLC and Jefferies & Co. Inc. have resolved allegations that Jefferies poached 36 bankers in a talent raid last month that crippled the Swiss bank’s health care investment group.

A spokesman for UBS said Monday that the bank had withdrawn the lawsuit and arbitration proceeding over Jefferies’ actions as well as vacated the temporary restraining order the court issued to stanch the stream of defections.

The spokesman said the dispute was "amicably resolved" but declined to provide any further details.

Justice Eileen A. Rakower...
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