UBS settles New York CDO lawsuit

September 25, 2015 12:58 PM

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ZURICH, Sept 25 UBS has settled a lawsuit accusing it of fraudulently causing $331 million of losses from collateralised debt obligations (CDOs) issued before the financial crisis, a spokesman for the Swiss bank said on Friday.

Loreley Financing, a group of special-purposes entities based in Jersey in the Channel Islands, filed a lawsuit in New York state in 2012 over four CDOs arranged by UBS.

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