UBS Subject of Subprime-Related Lawsuit
Class Action News
[##_1L|1370222128.jpg|width="130" height="130" alt=""|_##]UBS is facing a class action lawsuit, which alleges the financial services company misled investors by issuing materially false and misleading statements about the company's financial condition just two months before it was revealed UBS was planning to write down $10 billion in subprime-related losses. The lawsuit filed by the firm of Coughlin, Stoia, Geller, Rudman & Robbins LLP alleges in a United States District Court that UBS's actions negatively impacted common stockholders who purchased stock between the dates of March 13, 2007 through December 11, 2007.
In a press statement, the firm says, "UBS issued a press release announcing its financial results for the third quarter of 2007. In the days following this announcement, the price of UBS stock declined to as low as $49.27 per share. Then, on December 10, 2007, UBS announced writedowns of around $10 billion as a result of its subprime mortgage related positions. Following this announcement, the price of UBS stock declined to $48.78 per share, a 26% decline from the Class Period high."
Related listings
-
American Tower Settles Class Action Suit
Class Action News 12/16/2007American Tower Corp. said Thursday that it will pay $14 million to settle a consolidated securities class action filed against the company in May 2006 that concerns its historical stock option granting practices and related accounting.The broadcast a...
-
Judge OKs $57.5M Sprint stock settlement
Class Action News 12/13/2007[##_1L|1288012319.jpg|width="130" height="130" alt=""|_##]A state judge on Wednesday approved a $57.5 million settlement that ends a class-action lawsuit against Sprint Nextel Corp. over how it combined its wireless and wireline stocks three years ag...
-
San Jose weighs limits on class-action claims
Class Action News 12/11/2007[##_1L|1291027780.jpg|width="120" height="138" alt=""|_##]The San Jose City Council today will consider new rules for filing claims that a prominent local lawyer says is an attempt to block class actions. "It's very interesting that this proposal is ...
Victorville CA DUI defense Attorneys
The outcome of a DUI defense will have a long-term effect on anyone’s life, making the decision to receive legal representation an easy one. The fact is, most people accused of a DUI are first offenders with no criminal background. Whether this is your first run in with the law or you have had previous convictions, you are in need of a DUI defense attorney.
The charges you are facing for a DUI range from fines, a 12-month suspension on your license and worst-case scenario, prison time. Your attorney will be able to analyze your situation to decide the best way to go about your case.
Our attorneys know the tricky ways to challenge all of the DUI tests and know how to claim improper collection of evidence. We will be able to negotiate on your behalf and free you from charges and help you keep your drivers license. The DUI process can last up to several months, we can make this process easier on you. .