Real Estate Owners Escape $301M Contract Suit

Law360, New York (November 15, 2011, 10:55 PM EST) -- A federal judge on Tuesday ruled against Boston Property Exchange Transfer Co. in a $301 million malpractice and contract lawsuit that it filed against real estate owners that had taken over its arbitration claims over securities losses against UBS AG subsidiary PaineWebber Inc.

The suit, brought in Massachusetts federal court in December 2008, was filed when the defendants, who had previously won a separate securities fraud lawsuit against BPE in 2004, were awarded a state court order allowing them to take on BPE's claims against PaineWebber....
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