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Union de Empleados de Muelles de Puerto Rico PRSSA Welfare Plan et al v. UBS Financial Services Incorporated of Puerto Rico et al
Case Number:
3:10-cv-01141
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
Sectors & Industries:
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July 09, 2013
UBS Ducks Investor Suit Over $757M Bond Deal
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.
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January 07, 2013
1st Circ. Revives Shareholder Suit Over $757M UBS Deal
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.