Wayward Financial Institutions Facing Increasingly Stricter Punishment
Weekly Brief: Lawyers Advised To Accept New Reality
On February 8, 2024, the United States Supreme Court released a unanimous opinion confirming that a whistleblower does not need to show their employer’s actions were made with “retaliatory intent” to be protected under the...more
The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges....more
Newly released minutes from the Fed’s January meeting show central bankers preoccupied with global risks, including the still-growing economic impact of the coronavirus, while still taking a wait-and-see approach to any...more
White Collar Watch dates itself considerably with its Perry Mason allusion, but its bigger point is an interesting one–good luck finding a true “gotcha” moment when dealing with what are “quintessentially offenses of the...more
A NY state court threw out Ace Decade Holdings’ suit against UBS accusing the Swiss lender of fraud for its $500 million investment loss in a Chinese company. The court found that jurisdictional issues plagued plaintiff’s...more
When the bond market collapsed in Puerto Rico many clients at UBS Financial Services Incorporated of Puerto Rico had significant losses. Many had purchased shares of UBS PR closed-end funds or CEFs. UBSPR had been selling...more
On July 23, 2015, the Superior Court in Orange County, California, dismissed a lawsuit brought by UBS and joined by whistleblower Bradley Birkenfeld against former UBS customer Igor Olenicoff. The suit alleged malicious...more
On June 18, 2015, Justice Marcy Friedman of the New York Supreme Court dismissed RMBS fraud claims brought by Commerzbank AG London Branch (“Commerzbank”) against UBS, Nomura Holdings Inc., Barclays Bank PLC, Citigroup and...more
UBS and Capital Ventures Settle RMBS Dispute - On March 26, Capital Ventures International and several UBS affiliates filed a stipulation of dismissal after reaching a settlement disposing of all claims in the action....more
On September 30, Judge Sam Lindsay of the U.S. District Court for the Northern District of Texas granted a motion to dismiss plaintiff Town North Bank’s amended complaint against UBS, Morgan Stanley, Merrill Lynch, and J.P....more
On October 3, 2014, according to a U.S. Attorney’s Office press release and court records, Howard Bloomberg, a forensic accountant and certified fraud examiner, pleaded guilty to one count of failure to file an FBAR reporting...more
As part of the continuing investigation by the UK’s Serious Fraud Office (SFO) into the manipulation of LIBOR, the City of London police charged former UBS and Citigroup trader Tom Hayes with eight counts of fraud on June 18....more
On April 5, New York Supreme Court Justice Shirley Werner Kornreich dismissed with prejudice a suit brought by six Loreley Financing entities against various UBS entities. Loreley alleged fraud stemming from UBS’s issuance of...more