Pentwater Sues UBS Over Soured $25M Stock Purchase

Law360, New York (September 22, 2011, 10:35 PM EDT) -- Pentwater Capital Management LP hit UBS Securities LLC with a lawsuit Thursday in Illinois, claiming the investment bank failed to uphold its end of a deal in which Pentwater would have purchased $25 million worth of stock from the bank.

According to its complaint, Pentwater is seeking a declaratory judgment relieving it of any obligation to pay the $25 million, saying it backed out of the deal after UBS reneged on three terms of their agreement. UBS is demanding payments from Pentwater and has threatened to...
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