Highland Affiliates Want Out Of UBS' $686M CDO Suit

Law360, New York (May 25, 2012, 7:35 PM EDT) -- Two affiliates of private fund firm Highland Capital Management LP asked a New York state judge Friday to dismiss them from a $686 million fraud lawsuit by UBS AG that claims Highland and its affiliates tricked UBS into restructuring a debt securities agreement.

The affiliates — Highland Credit Strategies Master Fund LP and Highland Crusader Offshore Partners LP — said that a March ruling by a New York appeals court barring UBS from bringing legal claims for activities occurring before February 2009 and the failure of...
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