UBS, Red Zone End Six Flags Row For $11.6M

Law360 (March 16, 2011, 3:41 PM EDT) -- A New York judge approved an $11.6 million judgment Tuesday for a UBS AG affiliate in a contract suit over investment firm Red Zone LLC's proxy fight for Six Flags Inc., while Red Zone blamed Cadwalader Wickersham & Taft LLP for botching it.

The judgment, approved by Judge Barbara Kapnick of the Supreme Court of the State of New York, County of New York, resolves UBS Securities LLC's contention that Red Zone was on the hook for a transaction fee related to its proxy fight for control of theme park operator Six Flags in late 2005 and early 2006.

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