Simpson Thacher Achieves Dismissal of UBS Securities Case On Behalf of Underwriter Defendants
10.02.12
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On September 28, 2012, Judge Richard J. Sullivan of the United States District Court for the Southern District of New York granted a motion to dismiss federal securities fraud claims in In re UBS AG Securities Litigation, Master File No. 07 Civ. 11225 (RJS) (S.D.N.Y.). The Firm represents underwriters of UBS securities named in the case including J.P. Morgan Securities Ltd., Morgan Stanley & Co. International plc., BNP Paribas, Goldman Sachs International, Credit Suisse, and Deutsche Bank AG, London Branch.
The suit alleged, among other things, that during the putative class period the defendants violated the securities laws by issuing fraudulent statements in connection with a UBS AG offering in 2008, which was underwritten by the Underwriter Defendants.
The Simpson Thacher attorneys representing the Underwriter Defendants on the matter are Barry Ostrager, Jonathan Youngwood, Erin Bradrick and Liz Gudis.