Violation Tracker Individual Record

Company: 
UBS
Current Parent Company: 
UBS
Penalty: 
$117,000,000
Year: 
2010
Date: 
April 29, 2010
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

In a case brought by the Michigan AG on behalf of state pension funds as well as other investors, UBS agreed to pay $117 million to settle allegations that its stock analyst reports did not present an honest assessment of the financial condition of HealthSouth Corporation, causing harm to shareholders.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Michigan Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Michigan
HQ Country of Parent: 
Switzerland
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.