July 09, 2013
UBS Trust Co. of Puerto Rico on Tuesday won another bid to escape a shareholder class action accusing it of selling $757 million in bad bonds to two pension plans, when a federal judge found the plans no longer had standing to bring their derivative claims.
January 07, 2013
The First Circuit on Friday revived a shareholder class action by Puerto Rico pension funds accusing UBS Trust Company of Puerto Rico of selling them $757 million in bad bonds to boost their price and generate illicit profits, saying a trial court erred in dismissing the suit in April 2011.