Investors, UBS Agree To Arbitrate Mutual Fund Risk Suit
By Taylor Arluck (October 26, 2018, 8:51 PM EDT) -- Investors and UBS have agreed to arbitrate a suit over whether the Swiss bank and its subsidiaries broke agreements linked to closed-end mutual funds by not properly structuring the investments in light of their exposure to Puerto Rican debt.
According to a Thursday filing in New York federal court, investors Nora Fernandez and Augusto Schreiner agreed to arbitrate their suit alleging that UBS and its Puerto Rican subsidiaries failed to suitably analyze 23 closed-end mutual funds for the common goal of preserving capital because the funds held the island's distressed government bonds.
The investors said UBS violated agreements between 2008 and...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!