UBS Settles RMBS Lawsuit

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On April 21, Union Central Life Insurance Co., Ameritas Life Insurance Corp. and Acacia Life Insurance Company, on the one hand, and UBS AG, UBS Securities LLC and Mortgage Asset Securitization Transactions, Inc., (collectively, UBS), on the other, filed a motion in the United States District Court for the Southern District of New York seeking voluntary dismissal based on the fact that they had reached a settlement. The settled action related to alleged misstatements by UBS relating to RMBS sold to the three insurance company plaintiffs. The settlement agreement was reached on March 5, 2014, and the parties now seek, in addition to voluntary dismissal, a bar order relating to UBS.  The terms of the settlement were not disclosed. Motion.


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