We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

UBS Escapes ERISA Stock Drop Action

Law360 (March 28, 2011, 3:40 PM EDT) -- UBS AG won the dismissal of a putative class action in New York on Thursday asserting the company violated the Employee Retirement Income Security Act by continuing to offer an all-UBS stock retirement fund after it was no longer prudent.

Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York granted the defendants' motion to toss the suit alleging that UBS officers still recommended investing in the fund, which ultimately collapsed in the mortgage-backed securities meltdown, even after they knew...
To view the full article, register now.




Case Information

Case Title

In Re UBS Erisa Litigation

Case Number



New York Southern

Nature of Suit

Labor: E.R.I.S.A.


Richard J. Sullivan

Date Filed

July 28, 2008

Law Firms


Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.