Institutional Investor’s Suit Against UBS Proceeds

Law360 (September 17, 2008, 12:00 AM EDT) -- A federal judge has cleared the way for energy company Plug Power Inc.’s suit that accuses UBS AG of misrepresenting the auction rate securities it sold as safe and highly liquid investments.

Judge Gary L. Sharpe of the U.S. District Court for the Northern District of New York on Wednesday rejected a bid by UBS to toss the securities suit that Latham, N.Y.-based Plug Power, an institutional client of UBS unit UBS Financial Services Inc., lodged in May.

“We are disappointed that this case wasn't dismissed...
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