Skadden, UBS Can't Shake Mortgage-Backed Securities Case

, The Litigation Daily

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Siding with lawyers at Quinn Emanuel, a judge in Manhattan refused to dismiss a breach of contract lawsuit brought by three trusts that issued about $1.5 billion in securities backed by UBS-sponsored mortgages. And, the judge ruled, UBS may have to pay money damages for failing to repurchase faulty loans.

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