Judge Casts Doubt On $160M UBS Suit Over Soured RMBS

Law360, New York (January 13, 2014, 3:17 PM EST) -- A New York judge on Monday was highly critical of a suit brought by Irish financial firm Sealink Funding Ltd. against UBS AG for allegedly misleading investors about the quality of a $160 million investment into a series of residential mortgage-backed securities, criticizing Sealink’s purported lack research on the securities at issue.

During oral arguments on UBS’ motion to dismiss Sealink’s action, Judge Charles E. Ramos was dismissive of Sealink’s arguments that it had performed the requisite due diligence on the quality of the securities....
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