Investor Class Takes Aim At UBS, Lehman Execs

Law360, New York (November 7, 2008, 12:00 AM EST) -- UBS Financial Services Inc. and executives at Lehman Brothers Holding Inc. are facing a class action lawsuit over sales of debt securities issued by the bankrupt investment bank.

The suit, filed in U.S. District Court for the Southern District of New York Thursday, claims that UBS and the executives – including Lehman's outgoing Chief Executive Officer Richard Fuld – misrepresented the risks of the sophisticated bonds. It is the latest in a conga line of litigation that formed in the wake of Lehman's bankruptcy filing on...
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