Bondholder Seeks Cert. For UBS Securities Action

Law360, New York (September 2, 2009, 1:20 PM EDT) -- A bondholder suing UBS Financial Services Inc. over an alleged default on $189 million in bonds has moved for class certification, arguing that the three-year-old case is ready to move forward.

Lead plaintiff Michael A. Brady filed a motion Tuesday in the U.S. District Court for the Northern District of Oklahoma to certify a class of an estimated 500 bondholders.

Brady sued UBS and purported UBS shell company Greater Southwest Funding Corp. in 2006, after the companies allegedly refused to redeem bonds issued to finance the...
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