UBS Client Sues Over $109M In 'Toxic' MBS

Law360, New York (November 2, 2011, 1:32 PM EDT) -- Investor group Capital Ventures International sued several UBS Americas Inc. subsidiaries in Massachusetts federal court on Tuesday, saying the companies sold it more than $109 million worth of risky mortgage-backed securities by billing them as safe investments.

In its complaint, Capital Ventures accuses UBS Securities LLC and UBS Real Estate Securities of packaging the securities with pools of toxic home loans and marketing them as sound investments. UBS made numerous misstatements and omissions in order to convince investors to buy the bound-to-fail products, the complaint says....
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Capital Ventures International v. UBS Securities LLC et al


Case Number

1:11-cv-11937

Court

Massachusetts

Nature of Suit

Contract: Other

Judge

Denise J. Casper

Date Filed

November 1, 2011

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.