Saturday, 23 August 2014
Last updated 1 day ago
Jun 30 2010 | 1:50pm ET
As regulators and others rush to the courthouse to sue and be sued over collateralized debt obligations, UBS is back, refilling its lawsuit against hedge fund Highland Capital Management.
UBS’ move comes almost five months after a New York state court dismissed one of three claims against Highland in a lawsuit filed last February. The appeals court dropped the allegation that the hedge fund had a duty to indemnify the bank against losses suffered in a CDO restructuring two years ago.
UBS alleges that Highland “fraudulently induced” it to restructure the CDO, providing “false, incomplete and otherwise misleading” information.
“We are disappointed that UBS has chosen to refile its baseless lawsuit against Highland Capital and the funds given the court’s previous dismissal of the suit’s central claim,” Highland spokeswoman Nina Devlin said.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note