UBS Warburg
UBS Warburg, a Swiss-based investment firm, recently agreed to pay $80 million as part of a settlement with the Attorney General of the State of New York. In 2002, UBS Warburg was named in a class action lawsuit that accused the firm of inflating the value of Enron Corporation's stock even though analysts knew the company was headed for disaster.
Warburg, a sister company to Paine Webber, Inc., also allegedly encouraged Enron employees to invest their 401(k) contributions in Enron. Many workers lost all their retirement savings when the stock plummeted. The lawsuit claimed Warburg was responsible for warning investors of Enron's pending downfall and that analysts should never have rated the stock as a strong buy.
Securities that UBS Warburg analysts may have misrepresented include the following:
- Atmel
- Espeed
- Flextronics
- JDS Uniphase
- Netopia
- Triangle Pharmaceuticals
If you have been victimized by securities fraud because of a UBS Warburg analyst, it may be important to contact an attorney who can help you protect your legal rights. Please keep in mind that there may be time limits within which you must commence suit.
Attorneys associated with InjuryBoard.com will evaluate your case free of charge. In addition, you will not pay any fees unless your attorney recovers money for you. Please click on the free Ask An Attorney button to take advantage of this valuable service.
-- Article Courtesy of InjuryBoard.com
More ...
- Stockholder Files Lawsuit Against Martha Stewart
- Health Care Equipment Supplier Settles Fraud Case
- Dealing with Insurance Adjusters
.