UBS to settle securities case for $19.4B
The Massachusetts Secretary of State's office says Swiss Bank UBS has reached a $19.4 billion agreement to buy back bonds to settle claims that it misled investors into buying high-risk securities.
By Agencies |
BOSTON: The Massachusetts Secretary of State's office says Swiss Bank UBS has reached a $19.4 billion agreement to buy back bonds to settle claims that it misled investors into buying high-risk securities.
The agreement has been reached between UBS Financial Services Inc. and the federal Securities and Exchange Commission and regulators in several states.
Brian McNiff, a spokesman for Secretary of State William Galvin, said an official announcement may not come until Monday. The deal was first disclosed on Friday in The Boston Globe.
The agreement has been reached between UBS Financial Services Inc. and the federal Securities and Exchange Commission and regulators in several states.
Brian McNiff, a spokesman for Secretary of State William Galvin, said an official announcement may not come until Monday. The deal was first disclosed on Friday in The Boston Globe.
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