UBS Countersues Bloomberg In Data Misuse Row

Law360 (January 22, 2019, 10:17 PM EST) -- UBS AG fired its own breach of contract claim at Bloomberg Finance LP on Friday in a suit that accuses UBS of redistributing proprietary data without authorization, telling a New York federal court that its use of the data was above board and that by “acting arbitrarily and/or irrationally in 2018,” Bloomberg was out of line.

The bank’s counterclaims allege that Bloomberg was the one to breach a data license agreement after it threatened in early 2018 to shut down services to UBS over fears that its data was being shared with StatPro Group PLC, a portfolio management service that acquired...

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