UBS Claims Against Highland Are Too Late: NY Court

Law360, New York (July 21, 2011, 6:06 PM EDT) -- A New York state appeals court on Thursday blocked UBS AG's attempts to add fraud claims to its $686 million suit against hedge fund Highland Capital Management LP over a failed debt deal, ruling that the issues involved had already been decided.

UBS cannot add additional fraud-based claims to the suit because the suit had already been dismissed and the allegations arose from "a single factual grouping."

"Both are related to the same business deal and to the diminution in the value of the securities placed...
To view the full article, register now.