Warning-Label Suit Against Swiss Banks Tossed

Law360, New York (January 10, 2008, 12:00 AM EST) -- A federal judge has tossed a case brought by a San Francisco couple that said Credit Suisse Group and UBS AG should have a product warning label on their bank accounts for U.S. customers.

Hana and Oliver Hilsenrath sought to force the Swiss banks to inform current and prospective customers through a "product warning label" that they are not obligated by property rights granted by the U.S. Constitution.

Swiss authorities seized over $7.5 million from the Hilsenraths’ Swiss bank accounts in error in 2005.

The couple...
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