Raphael Rosenblatt | Bloomberg LawFulton Bank, N.A. v. UBS Securities, LLC, No. 10-CV-01093, 2011 BL 286582 (E.D. Pa. Nov. 7, 2011) Attempting to allocate blame for its auction rate securities (ARS) losses after the global collapse of the ARS market, Fulton Bank, N.A., as successor to Fulton Financial Advisors, N.A. (Fulton Bank), brought an action against UBS Securities, LLC (UBS) alleging securities fraud and various common law claims. Finding that Fulton Bank failed to state a cognizable cause of action, the U.S. District Court for the Eastern District of Pennsylvania dismissed the complaint.
Auction Rate Securities
Motion to Dismiss
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