UBS could face lawsuits after rogue-trading losses
Management failures could leave bank liable
UBS could face lawsuits from investors if management failures are found to be responsible for the bank's recent rogue-trader event. One legal expert warns major shareholders are considering whether to lead an action against the troubled bank.
"It's early days, but our clients are asking us what we think, so we're looking at it," says Dominic Auld, securities litigation expert at US firm Labaton Sucharow. "The first line of enquiry for UBS will be whether Kweku Adoboli is a rogue trader. But this
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