Shuttered Investment Co.'s Libor Claims Against UBS Tossed

Law360 (August 16, 2019, 5:08 PM EDT) -- A New York federal court on Friday dismissed antitrust claims against UBS in a proposed class action over alleged Libor rigging, finding that a defunct investment company didn't transfer the rights to pursue the claims before it dissolved.

U.S. District Judge Vernon S. Broderick rejected FrontPoint European Fund LP's bid to substitute and assign its antitrust claims to Fund Liquidation Holdings LLC, finding that a July 2011 asset purchase agreement did not transfer the right to pursue the suit. The court went on to close the case, finding that FrontPoint lacks the ability to bring claims against UBS AG as it...

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