Lawsuits Loom After UBS' $10B Write-Down: Experts

Law360, New York (December 10, 2007, 12:00 AM EST) -- Investment bank UBS has become the third major bank to disclose a multibillion-dollar write-down due to the deterioration of the subprime market, continuing a trend that could mean trouble for banks in both the markets and the courtroom.

In a statement issued Monday, UBS said that it would offset a $10 billion write-down by obtaining a $11.52 billion capital injection from the government of Singapore.

“In light of continued deterioration in the subprime market, valuations of UBS's remaining subprime positions reflect the extreme loss projections implied...
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