Law360, Los Angeles (July 2, 2014, 4:23 PM EDT) -- A Wisconsin federal judge on Wednesday freed UBS Securities LLC and Banc of America Securities LLC from suits brought by CUNA Mutual Group affiliates seeking to undo their purchases in stakes worth millions in mortgage-backed securities offerings they claim they were tricked into buying, ruling that the insurers' claims are time-barred.
U.S. District Judge William M. Conley granted UBS' and Banc's motions to dismiss, agreeing that the claims brought by the CUNA Mutual affiliates are barred under Wisconsin's six-year statute of limitations for contract actions.
While the parties disputed the appropriate law to apply to some of the certificates at issue...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!