Sealink Claims UBS Misrepresented $160M In Soured RMBS

Law360, New York (September 5, 2012, 6:23 PM EDT) -- Irish financial firm Sealink Funding Ltd. on Wednesday continued in its crusade to recoup losses from a series of investments in residential mortgage-backed securities, accusing UBS AG of misrepresenting the nature of $160 million worth of these securities in a new suit in New York state court.

According to a summons with notice filed in New York State Supreme Court, UBS was responsible for misleading the Dublin-based investment fund as to the risk potential of its RMBS offerings. Sealink says the Swiss financial services company made...
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