Court finds UBS not liable in lawsuit by attack victims

February 14, 2013
Nate Raymond

A U.S. appeals court refused Thursday to revive a lawsuit against UBS AG (UBSN.VX) by U.S. victims of Hamas and Hezbollah attacks in Israel who claimed the bank aided international terrorism.

The 2nd U.S. Circuit Court of Appeals in New York said the plaintiffs could not obtain relief against the Swiss bank on their claims. However, it also ruled a trial judge was wrong in holding that the victims lacked the legal standing to bring the case under federal terrorism laws.

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