April 10, 2015
A Puerto Rico federal judge has moved to New York federal court a $5 million putative class action alleging UBS AG and a Banco Popular subsidiary steered older investors into risky and volatile mutual funds, denying the plaintiffs' arguments that Puerto Rico has a public interest in the case, according to court documents filed Thursday.
August 11, 2014
Plaintiffs in a $5 million putative class action alleging UBS AG steered older investors into volatile mutual funds that lost billions urged a Puerto Rico federal court Friday to reject UBS' bid to transfer the suit to New York, saying the case has strong ties to the commonwealth.