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Stock impact report

UBS Will Contest RMBS Civil Complaint Filed by United States Department of Justice

UBS Group AG Registered Ordinary Shares (UBS) 
Company Research Source: Business Wire
UBS is confident in its legal position, based on the facts and the law ZURICH & BASEL, Switzerland--(BUSINESS WIRE)-- Regulatory News: The United States Department of Justice ("DOJ") today filed a civil complaint in the U.S. District Court for the Eastern District of New York related to UBS's issuance, underwriting and sale of residential mortgage-backed securities ("RMBS") more than a decade ago. The complaint seeks unspecified monetary civil penalties under the Financial Institutions Reform, Recovery, and Enforcement Act ("FIRREA") regarding transactions that date back to 2006 and 2007. The DOJ’s claims are not supported by the facts or the law. UBS will contest the complaint vigorously in the interest of its shareholders. UBS is confident in its legal position and has been fully prepared for some time to defend itself in court. UBS intends to rely on the following significant f Show less Read more
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