Injunction Barring Worldcom Claims V. UBS Affirmed

Law360, New York (February 12, 2009, 12:00 AM EST) -- A federal appeals court has rejected two WorldCom Inc. shareholders' challenge to a permanent injunction that blocked them from bringing arbitration claims against UBS Financial Services Inc. over investments in securities issued by WorldCom.

The U.S. Court of Appeals for the Second Circuit issued a summary order on Wednesday denying Howard Davis and Marvin Gimbel's appeal of a July 2007 decision barring them from arbitrating claims against UBSFS where those claims rest on transactions in Worldcom securities.

“The import of the decision is that the investment...
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