Tax Fraud Action Dismissal Was Proper, UBS Tells 7th Circ.

Law360, New York (November 7, 2012, 2:33 PM EST) -- UBS AG on Monday urged the Seventh Circuit not to revive a putative class action accusing it of aiding tax fraud by its clients, saying a lower court had properly dismissed the case for lack of proof of any wrongdoing by the bank.

According to UBS’ brief, U.S. District Judge John W. Darrah had correctly ruled that plaintiffs Mathilde Guetta, Himanshu Patel and Matthew Thomas had not plausibly proven that back taxes and penalties they paid to the U.S. Internal Revenue Service under a voluntary disclosure...
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