Angioblast Loses Contract Counterclaims Against UBS

Law360, New York (February 2, 2012, 5:15 PM EST) -- A New York state judge on Monday dismissed stem cell research firm Angioblast Systems Inc.'s allegations that UBS Securities LLC is not entitled to $7.8 million in transaction fees related to an agreement to raise capital for a merger.

Judge Eileen Bransten granted UBS' motion to dismiss Angioblast's counterclaims, rejecting Angioblast's argument that the bank is not entitled to the money because it did not live up to its agreement to help the stem cell research firm raise capital.

Angioblast filed the counterclaims in UBS' suit...
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