Ex-UBS Counsel Settles Cuomo's ARS Claims

Law360, New York (October 7, 2008, 12:00 AM EDT) -- The former general counsel of UBS AG agreed Tuesday to pay $6.5 million to settle insider trading claims stemming from the collapse of the auction rate securities market.

According to the agreement announced by New York Attorney General Andrew Cuomo, David Aufhauser will also be barred for two years from working with any company involved in the securities industry, from practicing law in New York and from serving as a director or officer of any public company.

Aufhauser neither admitted nor denied guilt in the matter,...
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