UBS Dodges Suit Over $5M In Pension Fund Investments

Law360, New York (September 29, 2011, 9:46 PM EDT) -- A New Jersey federal judge on Thursday tossed a class action against UBS Securities LLC over losses a pension trust fund incurred from its $5 million purchase of mortgage-backed securities, finding the plaintiff failed to show it met the statute of limitations.

Locals 306 and 612 of the International Union Of Operating Engineers - Employment Construction Industry Retirement Trust, a pension trust fund for operating engineers, filed the suit in February 2010 in the District of New Jersey. 

The suit claimed that UBS, which underwrote the...
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