2nd Circ. Spares UBS From $40M Arbitration Claim
On Tuesday, the U.S. Court of Appeals for the Second Circuit affirmed the lower court’s grant of declaratory judgment to UBS, upholding a permanent injunction barring the investors from pursuing their fraud claims in a Financial Industry Regulatory Authority arbitration proceeding.
“The district court correctly concluded that the Swiss investors were not customers of UBS,...
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