UBS Tries To Snuff Out Investors' $40M FINRA Claim

Law360, New York (October 22, 2009, 3:55 PM EDT) -- Financial investment giant UBS Securities LLC has asked a federal judge to block several Swiss investors from pursuing $40 million in claims in a Financial Industry Regulatory Authority arbitration proceeding related to losses from the massive HealthSouth Corp. fraud.

In a preliminary injunction motion filed Wednesday in the U.S. District Court for the Southern District of New York, UBS says the claims by the investors — who say they were UBS clients — are “patently improper” because they were not customers at the time they supposedly...
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