NY AG Could File Civil Suit Against UBS This Week

Law360, New York (July 23, 2008, 12:00 AM EDT) -- As a result of his ongoing probe into the collapse of the auction rate securities market, New York Attorney General Andrew Cuomo will reportedly slap UBS AG with a civil suit for securities fraud as early as this week.

Citing sources familiar with the investigation, the Wall Street Journal reported Wednesday that Cuomo's suit against the Swiss investment firm could be the first in a series of suits resulting from his probe into the auction rate securities market.

Because UBS' trading operations for auction rate securities...
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