Finra orders UBS to pay $80m to settle frozen assets claim
NEW YORK – UBS has been ordered to pay a settlement of $80.8 million to a mobile phone manufacturer to settle claims the Swiss bank was responsible for a loss of earnings.
Kajeet, a firm that specialises in manufacturing phones for children, claimed it suffered a loss of business when money it had invested in auction-rate securities through UBS became inaccessible when the market froze in February
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