Forbes – A Connecticut court ordered UBS to pledge assets or post a $35 million bond after finding ‘probable cause’ that the bank committed securities fraud in a deal with Pursuit Partners, the hedge fund’s lawyers said on Wednesday.
Superior Court Judge John Blawie found probable cause that UBS used secret insider information obtained from its relationship with ratings agencies Moody’s and Standard & Poor’s to commit securities fraud in the sale of collateralized debt obligation notes to Pursuit.
