UBS Not Liable For Terror Attacks, 2nd Circ. Rules

Law360, New York (February 14, 2013, 7:08 PM EST) -- The Second Circuit on Thursday rejected a bid to revive a $500 million lawsuit alleging UBS AG aided and abetted several deadly terrorist attacks by funneling U.S. currency to Iran in violation of U.S. sanctions, ruling the plaintiffs hadn't plausibly tied the attacks to the bank’s actions.

In a published decision, the three-judge panel ruled that U.S. District Judge Jed S. Rakoff had incorrectly found that the plaintiffs lacked standing to bring suit against UBS, but had correctly ruled they had not brought a legitimate claim...
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