UBS Securities filed a lawsuit in the U.S. District Court in Manhattan on Tuesday seeking to thwart an attempted arbitration claim by a group of Swiss investors. The arbitration claim was filed with the Financial Industry Regulatory Authority in relation to alleged losses suffered by the Swiss UBS clients.
The arbitration claim hopes to recover $41 million in damages from UBS in connection with an investment made in a company called HealtheTech Inc. UBS states that the investors in question never had a direct relationship with UBS, as UBS was only advising HealtheTech on its initial public offering.
A hearing date in the arbitration is scheduled for some time in June.
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