UBS Pays $45M To Settle ClearOne ARS Arbitration Row

Law360, New York (January 16, 2013, 6:22 PM EST) -- Investment banking giant UBS Financial Services Inc. has agreed to pay $45 million to resolve arbitration claims over auction rate securities that it sold to Salt Lake City-based audio conferencing products company ClearOne Communications Inc., UBS said in a statement Wednesday.

The settlement was reached Dec. 10 but was kept confidential until its similar dispute with Morgan Stanley & Co. before a different arbitration panel could be resolved, ClearOne said in the Wednesday statement. Its claims against Morgan Stanley over auction rate securities that it had...
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