UBS Must Face Fraud Claim in Suit Over CDO Losses, Court Says
Dec. 2 (Bloomberg) — UBS AG must face a lawsuit brought by Loreley Financing entities over $331 million of losses on collateralized debt obligations, an appeals court ruled.
The New York state appeals court today overturned last year’s judge’s ruling that dismissed the lawsuit.
To contact the reporter on this story: Chris Dolmetsch in New York State Supreme Court in Manhattan at cdolmetsch@bloomberg.net
To contact the editor responsible for this story: Joe Schneider at jschneider5@bloomberg.net
