Weekly Brief: UBS Smacked in LIBORgate Settlement

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Dec. 20 (Bloomberg Law) -- Bloomberg Law's Lee Pacchia runs through the legal news for the week. UBS announced a major settlement with US, UK and Swiss authorities for its role in rigging global interest rates. Also, Goldman Sachs and Rajat Gupta are sparring in court over who should pay the nearly $7 million the investment banking giant has spent on Gupta's insider trading scandal. Finally, are we going to see another BigLaw mega-merger? Reports indicate a deal to create a 950-lawyer firm could be in the works.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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