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NY Court Revives Medicor Claims Against UBS Units

Law360 (March 31, 2011, 7:42 PM EDT) -- A New York state appeals court reinstated claims against two UBS AG affiliates Thursday in a suit over a private equity firm's investment in medical device manufacturer Medicor Ltd., which collapsed after a Ponzi scheme by its chairman unraveled.

New York state's Martin Act doesn't block Silver Oak Capital LLC's claims against UBS affiliates UBS Securities LLC and UBS Financial Services Inc., ruled a five-judge panel of the Appellate Division of the Supreme Court of the State of New York, First Judicial Department.

"Plaintiffs sufficiently allege...
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