UBS Wins 2nd Dismissal Of Investors' ARS Action

Law360, New York (June 11, 2010, 12:16 PM EDT) -- A federal judge has again dismissed a putative investor class action accusing UBS AG and certain executives of artificially propping up the auction rate securities market prior to its collapse in early 2008.

Judge Lawrence M. McKenna of the U.S. District Court for the Southern District of New York dismissed the case for the second time Thursday, finding that the plaintiffs failed to support their allegations that UBS manipulated the market.

The case was first tossed in March 2009 after Judge McKenna said the lead plaintiffs...
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