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UBS (UBS) is due to ask an Appeals Court today to dismiss a lawsuit from the FHFA over losses on...
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Monday, November 26, 2012, 4:17 AM ETUBS (UBS) is due to ask an Appeals Court today to dismiss a lawsuit from the FHFA over losses on $6.4B in mortgage bonds sold to Fannie Mae and Freddie Mac. UBS argues that the claims expired in 2010 and so are time-barred by the statute of repose. The stakes are high not just for UBS but also for several other banks that the FHFA has sued for a similar reason, including JPM, Barclays (BCS) and GS.
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