UBS will pay $358M as part of mortgage-backed-securities case

05/7/2013 | Bloomberg

UBS will pay $358 million as part of a settlement to resolve a lawsuit alleging that the loans underlying a set of mortgage-backed securities did not meet the level of quality that UBS had promised. Assured Guaranty, which had agreed to insure the securities, filed the suit in early 2012. UBS also will cover some of the future losses on the securities.

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