DOCSLIB.ORG

SEC News Digest, 06-18-1982

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
SEC News Digest, 06-18-1982 sec.neW~~l~ Issue 82-117 i9~~,! U.S. S~CURITIES t,NQ EXCHANGE COMM!:.5SION COMMISSION ANNOUNCEMENTS SCHEDULE OF WITNESSES FOR RULE 415 HEARINGS The following schedule ·has been established for the hearings on Rule 415 concerning the registration of securities to be sold in delayed or continuous offerings. The hearings will be held in Room 776 of the Securities and Exchange Commission, 500 North Capitol Street, Washington, D.C. 20549. Monday, June 28 2:00 p.m. - 5:30 p.m. Opening Statements National Association of Securities Dealers, Inc. Citicorp, Donald S. Howard, Executive Vice President Salomon Brothers Inc., John Gutfreund, Chairman and Chief Executive Officer Warburg Paribas Becker--A.G. Becker Inc., Ira T. Wender, President and Chief Executive Officer Tuesday, June 29 9:30 a.m. - 12:30 p.m. The Roundtable (an association of regional firms), David Klann, Senior Vice President of Blunt Ellis & Loewi, Inc. Blunt Ellis & Loewi, Inc., David Klann, Senior Vice President Wheat, First Securities, Inc., Mark Gambill, Vice President Piper, Jaffray & Hopwood Inc., John S. Bacon, Vice President/Syndicate Manager Prescott, Ball & Turben, John Goldsmith, Managing Partner Edward A. Viner & Co., Inc., Daniel J. Cristofano, Executive Vice President Moore & Schley, Cameron & Co., Frank Trotta, Partner Josephtha1 & Co. Inc., Richard B. Matty, Vice President/Syndicate Manager 2:00 p.m. - 5:15 p.m. J.C. Bradford & Co., J.C. Bradford, President WID. C. Roney & Co., Wm. C. Roney, Jr., General Partner First Florida Securities, Inc., Richard A. Brennan, Vice President/syndicate Manager Rotan Mos1e Inc., John Stanton, Chairman The Ohio Company, Lawrence G. McGuire, Vice President/Syndicate Manager Boettcher & Co., Richard M. Hufnagel, Special Partner, Corporate Bond Dept. and Debt Syndicate Manager Legg Mason Wood Walker Inc., Edmund J. Cashman, Jr., Executive Vice President Butch~r & Singer Inc., Michael Foley, Senior Vice President Wednesday, June 30 2:30 p.m. - 5:30 p.m. Stifel, Nicolaus & Co., Inc., J. Joseph Sch1afly, Vice President Bateman Eichler, Hill Richards Inc., John Siciliano, First Vice President and Manager, Corporate Syndicate Department J.J.B. Hilliard, W. L. Lyons, Inc., W. Allen Northcutt, Senior Vice President Sutro & Co. Inc., Charles Murphy, Director of Investment Banking The Milwaukee Company, Ross M. Langill, Vice President and Syndicate Manager D.A. Davidson & Co. Inc., Jerry Milkowski, Vice President in Charge of Syndicate Department A.E. Masten & Co. Inc., James Kingsbury, Executive Vice President Goldman, Sachs & Co., John Whitehead, Senior Partner Thursday, July 1 9:30 a.m. - 12:30 p.m. Securities Industry Association, Edgar D. Janotta, Chairman Underwood Neuhaus & Co., Inc., Harry Zuber, Senior Vice President, Director Howard, Weil, Labouisse, Friedrichs Inc., John B. Levert, Jr., President Advest, Inc., Randolph Guggenheimer, Jr., Group Vice President, Director McDonald & Co., John E. Kohl, Partner/Syndicate Department Kidder, Peabody & Co. Inc., Ralph D. DeNunzio, President and Chief Executive Officer 1:45 p.m. - 5:15 p.m. A. Gary Shilling & Co., Inc. Lehman Brothers Kuhn Loeb Inc., Francois de ~aint Phalle, ~ag~ng Di~ector E.I. duPont de Nemours & Company, Inc., C.~. Minix, Treasurer Morgan Stanley & Co., Inc., Thomas A. Saunders, III, Managing Director Friday, July 2 9:30 a.m. - 12:30 p.m. Dean witter Reynolds Inc., F. Gerald McGrath, Executive Vice President American Council of Life Insurance, David Albenda, Vice President and Associate General Counsel, N. Y. Life Insurance Co. Reid & Priest, William T. Baker, Jr., Partner Merrill Lynch, Pierce, Fenner & Smith Inc., William Schrier, Chief Executive Officer 2:00 p.m. ~ 2:45 p.m. Shearson/American Express, Inc. CIVl PROCEEDINaS CACTUS ENERGY COMPANY, OTHERS ENJOINED The Fort Worth Regional Office announced that on June 8 the Honorable Lee West, U.S. District Court Judge for the Western District of Oklahoma, entered an Order of Permanent Injunction against Cactus Energy Company and Filco, Inc. of Bethany, Oklahoma, and Amarillo, Texas, respectively, and Daniel H. Lloyd of Piedmont, Oklahoma. The Order permanently enjoins the defendants from further violations of the registration and antifraud provisions of the securities laws. The defendants consented to the entry of the Order without admitting or deqying the allegations of the Commission's complaint. The complaint, also filed on June 8, alleged that the defendants offered and sold over $4.7 million of unregistered securities.in the form of fractional undivided interests and limited partnership interests in oil and gas leases to approximately 170 investors. The complaint further alleged that the defendants made material mis- representations and omitted to state material facts, concerning, among other things: the amount and rate of return an investor could expect from an investment with Cactus or Filco; the financial condition of Cactus; the background and experience of Lloyd; the number of wells drilled and owned by Filco; and the property to be acquired by Pi1co investors. (SEC v. Daniel H. Lloyd, et a1., USDC/WD/OKLA/Civ. No. 82-824W). (LR-9696) C_AL PROCEEDINGS JAMES MITCHELL NEWMAN CONVICTED The New York Regional Office announced that on May 21 James Mitchell Newman of New York, New York, was convicted by a U.S. District Court Jury in the Southern District of New York on 15 counts of securities fraud, conspiracy to commit securities fraud, 2 NEWS DIGEST, June 18, 1982 and mail fraud. On February 3, 1981, a federal grand jury in Manhattan indicted Newman and three other defendants on 27 counts of those offenses. The indictment charged that Newman and the other defendants effected transactions in the securities of 17 companies on the basis of material, nonpublic information about impending takeovers of those companies. The indictment was dismissed by U.S. District Judge Charles S. Haight, Jr. on May 19, 1981. On October 30, 1981 the judgment of dismissal was reversed and the indictment reinstated by the U.S. Court of Appeals for the Second Circuit. Newman is scheduled to be sentenced by Judge Haight on July 8. (U.S. v. James Mitchell Newman, et al., 82 Cr. 166, CSH, S.D.N.Y.). (LRp9697) INVESTMENT COMPANY ACT RELEASES THE VARIABLE ANNUITY LIFE INSURANCE COMPANY SEPARATE ACCOUNT A A notice has been issued giving interested persons until July 6 to request a hearing on an application by The Variable Annuity Life Insurance Company (VALIC), The Vari- able Annuity Life Insurance Company Separate Account A (the Account), and The Variable Annuity Marketing Company (VAMCO), for an order granting exemptions to the extent requested pursuant to Section 6(c) of the Investment Company Act of 1940 from Sections 26(a) (2) (D) and 27(c) (2) of the Act and, pursuant to Section 11, approving certain offers of exchange. VALIC is a Texas stock life insurance company: the Account, a separate account of VALIC, is registered under the Act as a unit invest- ment trust. VALIC is the depositor of, and VAMCO, the principal under for, the Account. (ReI. IC-12494 - June 15) LISTING, DELISTING AND UNLISTED TRADING ACTIONS UNLISTED TRADING SOUGHT Notices have been issued g1v1ng interested persons until July 8 to comment on the applications of the Cincinnati Stock Exchange and the Midwest Stock Exchange, IncofiPorated for unlisted trading privileges in two and seven issues, respectively, whic are listed and registered on one or more other national securities exchanges and are reported in the consolidated transaction reporting system. (Rel. 34-18811 and 34-18809) DELI STING GRANTING An order has been issued granting the application of the New York Stock Exchange, Inc. to strike the common stock ($2.50 par value) and 9-3/8% debentures (due 6-30-95) of AM INTERNATIONAL, INC. and the "'21-3/4%convertible guaranteed debentures (due 5-1-88) of ADDRESSOGRAPH MULTIGRAPH INTERNATIONAL CORPORATION (assumed by AM International, Inc.) from listing and registration thereon. (Rel. 34-18812) SELF·REGULATORY ORGANIZATIONS NOTICE AND APPROVAL OF PROPOSED RULE CHANGE The Commission has approved, on an accelerated basis, a proposed rule change filed by Options Clearing Corporation (SR-OCC-82-9) that would amend OCC's financial responsibility rules to conform with the Commission's recent amendments to SEC Rules 15c3-l (17 CFR 1240.l5c3-1) and l7a-ll (17 CFR 1240.17a-ll). Publication of the proposal is expected to be made in the Federal Register during the week of June 21. (Re!. 34-18813) NEWS DIGEST, June 18, 1982 3 · TRUST IDENTURE ACT RELEASES HUGHES TOOL COMPANY An order has been issued under the Trust Indenture Act of 1939 on an application of Hughes Tool Company that the trusteeship of Texas Commerce Bank National Association under various specified indentures is not so likely to involve a material conflict of interest as to make it necessary to disqualify Texas Commerce from acting as trustee. (ReI. TI-734) SECURITIES ACT REGISTRATIONS The following registration statements have been filed with the SEC pursuant to the Securities Act of 1933. The information noted below has been taken from the cover page and the facing sheet of the prospectus and registration statement and will appear as follows: Form, Name, address and phone number (if available) of the issuer of the security: Title and the number or face amount of the securities being offered: Name of the managing underwriter (if applicable); Whether the offering is a rights offering: File number and date filed; Assigned Branch; if the registration statement is a New Issue; and [S] denoting SHELF REGISTRATION pursuant to Rule 415. (5-3) NUCLEAR PHARMACY INCORPORATED, 3240 Juan Tabo, N.E., Building D, Albuquerque, NM 87111 (505) 292-5820 - 425,641 shares of common stock. Underwriter: J. C. Bradford & Co. The company and its subsidiaries are engaged in dispensing and distributing radiopharmaceuticals. (File 2-78036 - June 16) (Br. 4) (5-1) MAY PRIVATE DRILLING PARTNERSHIP 1982-C, 800 One Lincoln Centre, 5400 LBJ Freeway LB8, Dallas, TX 75240 (214) 934-9600 - $5 million of preformation general partnership interests in $10,000 units.
Load more

Recommended publications
  • DEC 3 0 1991 ROBERT L. HOECKER Clerk
    Appellate Case: 90-1243 Document: 01019337108 Date Filed: 12/30/1991 Page: 1 FIL~D United States Co~ ~f Ap:;>eals Tenth C1rcmt PUBLISH DEC 3 0 1991 UNITED STATES COURT OF APPEALS ROBERT L. HOECKER FOR THE TENTH CIRCUIT Clerk IN RE: KAISER STEEL CORPORATION, ) ) Debtor. ) ) ) --------------- ) KAISER STEEL CORPORATION; KAISER STEEL RESOURCES, ) INC., formerly known as Kaiser Steel Corporation, ) ) Plaintiffs-Appellants, ) Case No. ) 90-1243 v. ) ) PEARL BREWING COMPANY; FALSTAFF BREWING COMPANY; ) OPPENHEIMER & CO. INC.; JOSEPHTHAL & CO., Josephthal ) & Co. Incorporated; THE HILLMAN CO., INDIVIDUALLY AND ) AS TRUSTEE FOR THE N.M.U. PENSION TRUST; HERZFELD & ) STERN; HERZFELD & STERN INC., now known as JII ) Securities, Inc.; GOLDMAN SACHS & CO.; A.G. BECKER ) PARIBES INC., now known as Merrill Lynch Money Market, ) Inc.; A.G. EDWARDS & SONS, INC.; ALPINE ASSOCIATES; ) ASIEL & CO.; BANKERS TRUST COMPANY; BARCLAY'S BANK ) INTERNATIONAL LIMITED; BEAR STEARNS & CO., ) individually and as custodian for the IRA ACCOUNT OF ) ROBERT W. SABES; BRADFORD TRUST CO.; COWEN & CO.; ) CROCKER NATIONAL BANK; DAIN BOSWORTH, INC.; DILLON ) READ & CO., INC., individually and as General Partner ) of B/DR ARBITRAGE FUND LIMITED PARTNERSHIP; DOFT & ) CO., INC.; DREXEL BURNHAM LAMBERT, INC.; EASTON & CO.; ) EDWARD A. VINER & CO., INC., now known as Fahnestock & ) Co.; EDWARD D. JONES & CO.; ENGLER & BUDD COMPANY; ) EPPLER, GUERIN & TURNER, INC.; ERNST & COMPANY; EVANS ) & CO., INC.; FIFTH THIRD BANK; FIRST KENTUCKY TRUST ) COMPANY; HERZOG, HEINE, GEDULD, INC.;
    [Show full text]
  • ARTICLE:Liability of Broker-Dealers for Unsuitable Recommendations to Institutional Investors 2001
    ARTICLE:Liability of Broker-Dealers for Unsuitable Recommendations to Institutional Investors 2001 Reporter 2001 B.Y.U.L. Rev. 1493 Length: 32348 words Author: Norman S. Poser* * Professor of Law, Brooklyn Law School. A.B., LL.B., Harvard University. The work of my research assistants, Todd Doyle, Luke Fitzgerald, and Tracey Seraydarian, is gratefully acknowledged. I thank Professors James Fanto, Roberta Karmel, Therese Maynard, Arthur Pinto, Susan Poser, and William Wang for their helpful comments and suggestions. I am solely responsible, however, for the views expressed in this article. I also thank Brooklyn Law School and Dean Joan G. Wexler for the assistance provided to me through a Summer Research Stipend. LexisNexis Summary … According to the reasoning of these critics, the institutional investor, not the broker-dealer who knowingly or recklessly recommends an unsuitable security to the investor, should bear the responsibility for the recommendation if it goes bad. … There is no single definition of the term "institution," "institutional investor," or "institutional customer. … The California Court of Appeals has held that a broker's unsuitable recommendation to an institutional customer may be a breach of fiduciary duty, even if the account is nondiscretionary and even if the customer's representative tells the broker that he wishes to engage in transactions that would be unsuitable for the institution. … Other courts and arbitrators have agreed that a broker's unsuitable recommendation to an institutional investor constitutes a breach of fiduciary duty. … It may be insufficient for a broker-dealer to rely on what he is told by a institutional customer's financial officer or other representative.
    [Show full text]
  • Investment Banking and Secondary Markets
    Lecture 17: Investment Banking and Secondary Markets Economics 252, Spring 2008 Prof. Robert Shiller, Yale University Glass-Steagall Act 1933 • The modern concept of “Investment Bank” was created in the Glass-Steagall act (Banking Act of 1933). Glass Steagall separated commercial banks, investment banks, and insurance companies. • Carter Glass, Senator from Virginia, believed that commercial banks securities operations had contributed to the crash of 1929, that banks failed because of their securities operations, and that commercial banks used their knowledge as lenders to do insider trading of securities. Henry Paulson’s Proposal • Objectives-Based Regulation • Market stabililization Regulator • Prudential Financial Regulator • Business Conduct Regulator Paulson Continued • Federal Charter for insurance • Mortgage Origination Commission • SEC and CFTC merge • Merge OTS with OCC • Equip fed to monitor risks Investment Banks • Bulge bracket firms: First Boston, Goldman Sachs, Merrill Lynch, Morgan Stanley, Salomon Brothers, Lehman Brothers. • Traditionally were often partnerships, but partnership form is disappearing. Graham-Leach Act 1999 • President Clinton November 1999 signs Graham-Leach Bill which rescinded the Glass-Steagall Act of 1933. • Consumer groups fought repeal of Glass- Steagall saying it would reduce privacy. Graham-Leach calls for a study of the issues of financial privacy Mergers among Commercial Banks, Investment Banks & Insurance Companies • Travelers’ Group (insurance) and Citicorp (commercial bank) 1998 to produce Citigroup, on anticipation that Glass-Steagall would be rescinded. Brokerage Smith Barney • Chase Manhattan Bank (commercial bank) acquires JP Morgan (investment bank) (2000) for $34.5 billion • UBS Switzerland buys Paine Webber (brokerage) 2000 • Credit Suisse buys Donaldson Lufkin Jenrette (investment bank) 2000 Lehman Brothers • Founded 1850, by Henry Lehman, a young German immigrant, and his brothers • Investment banking, private equity, private banking, etc.
    [Show full text]
  • Glass-Steagall: Lest We Forget
    Florida State University Law Review Volume 11 Issue 1 Article 5 Spring 1983 Glass-Steagall: Lest We Forget Lawrence F. Orbe III Follow this and additional works at: https://ir.law.fsu.edu/lr Part of the Banking and Finance Law Commons Recommended Citation Lawrence F. Orbe III, Glass-Steagall: Lest We Forget, 11 Fla. St. U. L. Rev. 163 (1983) . https://ir.law.fsu.edu/lr/vol11/iss1/5 This Comment is brought to you for free and open access by Scholarship Repository. It has been accepted for inclusion in Florida State University Law Review by an authorized editor of Scholarship Repository. For more information, please contact [email protected]. COMMENTS GLASS-STEAGALL: LEST WE FORGET* LAWRENCE F. ORBE III I. INTRODUCTION In response to the Great Depression, federal legislation was en- acted to separate commercial and investment banking. However, the gradual sophistication of the banking industry and the creation of a plethora of new financial services offered by banking institu- tions have blurred this statutorily mandated division. This com- ment will trace the history of this legislation and delineate the principle actors responsible for its formulation. Next, an analogy * For earlier discussions of the Banking Act of 1933 (Glass-Steagall Act) and related issues, see Beatty, What are the Legal Limits to the Expansion of National Bank Services? 86 BANKING L.J. 3 (1969); Beatty, The Incidental Powers of National Banks, 4 NAT'L BANKING REv. 263 (1967); Chase, The Emerging Financial Conglomerate: Liberalization of the Bank Holding Company Act, 60 GEO. L.J. 1225 (1972); Clark and Saunders, Glass- Steagall Revised: The Impact on Banks, Capital Markets, and the Small Investor, 97 BANKING L.J.
    [Show full text]
  • BUS 200 Group Project, Semester 2, 20057 March 2011 Business Organisation and Management
    BUS 200 group project, semester 2, 20057 March 2011 business organisation and management (Photos: Entrance hall UBS headquarters in Basel, Aeschenvorstradt ; Counter hall UBS headquarters in Zurich, Bahnhofstrasse; UBS headquarters in Zurich, Bahnhofstrasse 45; UBS in Zurich, Paradeplatz) a glimpse of UBS Authors: Philipp Bircher 40808459 Meike Brünk 40594432 Valery Crottaz 40638626 Andreas Eiman 40811840 Anssi Ihaniemi 40794067 Executive summary As one of the leading wealth management companies in the world, a premier global invest- ment and asset management bank, UBS’ situation represents a good example of the chal- lenges an organization in the financial sector faces today. Beginning with a short outline of its historical roots, we try to shed light on UBS’ organizational culture. In this context it is cru- cial to understand that the values and norms within a company serve as guiding principles on a firm’s way to success. Thus, we analyse the values the organization promotes and discuss the implications this might have on its business. Many principles that are reflected in UBS’ organizational culture today have their roots in the bank’s constituting parts. Furthermore, the views on leadership and its emphasis on entrepreneurial thinking can only be fully understood if one takes into account the bank’s very diverse background which is a result of its history, its global business operations and its, in terms of culture and age, very heterogeneous work- force. Based on these facts and thoughts, we address the question of UBS’ strengths, weaknesses, opportunities and threats and summarize the organization’s situation in a SWOT Analysis. In terms of strengths, it turns out that the organization comes up with an efficient human re- source management, which focuses on satisfied employees, who are recognized by UBS as a key factor in the company’s success.
    [Show full text]
  • Two Harbors Announces Commercial Real Estate Team and $500 Million Initial Capital Allocation
    Two Harbors Announces Commercial Real Estate Team and $500 Million Initial Capital Allocation New York, November 17, 2014 – Two Harbors Investment Corp. (NYSE: TWO) announced today that the parent company of its external manager, Pine River Capital Management L.P., has hired Jack Taylor to serve as Global Head of Commercial Real Estate and Stephen Alpart and Steven Plust to each serve as Managing Directors. Two Harbors also announced that it is planning an initial allocation of approximately $500 million of equity capital to a commercial real estate initiative. “The addition of Jack, Stephen and Steven to the Pine River team will enable Two Harbors to diversify our portfolio into commercial real estate assets,” stated Thomas Siering, Two Harbors’ President and Chief Executive Officer. “We believe the opportunity in the commercial real estate market is attractive and will drive total stockholder return over the long term.” Prior to joining Pine River in New York as Global Head of Commercial Real Estate, Mr. Taylor served as a Managing Director and Head of the Global Real Estate Finance business for Prudential Real Estate Investors. Mr. Taylor joined Prudential in May 2009 to establish the integrated global debt funds platform, and was responsible for strategic planning, product development, client relations and the investment activities of the group. Mr. Taylor was also a member of the Global Management Committee and chaired the Global Investment Committee for debt and equity. From 2003 to 2007, Mr. Taylor was a partner at Five Mile Capital Partners LLC and the portfolio manager for its flagship structured income fund.
    [Show full text]
  • U.S. V. Hans Thomann Indictment (PDF)
    " \ \ UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK -x UNITED STATES OF AMERICA, INDICTMENT -v. - 12 Cr. HANS THOMANN, Defendant. 1:2CRIM212 --------- -- ------ -x COUNT ONE (Conspiracy) The Grand Jury charges: The Defendant and Associated Entities 1. At all times relevant to this Indictment, HANS 'L'HOMANN, the defendant, was a citizen and resident of Switzerland. 2. At all times relevant to this Indictment, UBS AG ("UBS"), a co-conspirator not named as a defendant herein, was a bank organized under the l,aws of Switzerland and was Switzerland's largest bank. At all times relevant to this Indictment, UBS owned and operated banking, investment banking, asset management, and stock brokerage businesses around the world, including in the Southern District of New York and elsewhere in the United States. 3. From in or about 1993 until at least in or about 2003, HANS THOMANN, the defendant, was a client advisor at UBS AG ("UBS II ). As a client advisor, THOMANN was a UBS client's primary interface with UBS. From in or about 2003 until at least in or about 2010, THOMANN was a client advisor at a series of asset management firms based in Switzerland (collectively, the "Swiss Asset Managersll ). Like UBS, the Swiss Asset Managers provided wealth management services to individuals around the world, including to u.S. taxpayers. Unlike UBS, however, the Swiss Asset Managers were not depository institutions. As a result, the Swiss Asset Managers arranged for the accounts of their clients to be maintained at various banks located in Switzerland. At all times relevant to this Indictment, the Swiss Asset Managers did not maintain any offices in the United States.
    [Show full text]
  • CDTS No. 1 and ATU Local 1321 Pension Plan, Et Al. V. UBS AG, Et
    Case 1:12-cv-04924-KBF Document 21 Filed 10/01/12 Page 1 of 63 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK x C.D.T.S. NO.1 AND A.T.U. LOCAL 1321 Civil Action No. 1: 12-cv-04924-KBF-HBP PENSION PLAN, Individually and on Behalf of All Others Similarly Situated, CLASS ACTION Plaintiff, : CONSOLIDATED COMPLAINT FOR VIOLATIONS OF THE FEDERAL vs. SECURITIES LAWS UBS AG, OSWALD J. GRUBEL and JOHN CRYAN, Defendants. 7713031 Case 1:12-cv-04924-KBF Document 21 Filed 10/01/12 Page 2 of 63 1. Lead Plaintiffs, Westchester Teamsters Pension Fund and Teamsters Local 456 Annuity Fund (collectively "Plaintiffs"), on behalf of themselves and all other persons similarly situated, allege the following based upon personal knowledge as to themselves and their own acts, and information and belief as to all other matters, based upon, inter a/ia, the investigation conducted by and through their attorneys. NATURE OF THE ACTION 2. This is a federal securities class action brought against UBS AG ("UBS" or the "Company") and certain of its officers for violations of the Securities Exchange Act of 1934 (the "1934 Act"). This action is brought on behalf of all purchasers of UBS securities on any domestic exchange and/or in any domestic transaction, during the period November 17, 2009 through September 15, 2011 (the "Class Period"), who were damaged as a result of defendants' violations of the federal securities laws. This action seeks to pursue remedies for violations of the anti-fraud provisions of the federal securities laws.
    [Show full text]
  • C.D.T.S. No. 1 and A.T.U. Local 1321 Pension Plan, Et Al. V. UBS AG, Et Al
    Case 1:12-cv-04924-KBF Document 46 Filed 03/04/13 Page 1 of 138 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK x C.D.T.S. NO. 1 AND A.T.U. LOCAL 1321 : Civil Action No. 1:12-cv-04924-KBF-HBP PENSION PLAN, Individually and on Behalf of All Others Similarly Situated, : CLASS ACTION : Plaintiff, : FIRST AMENDED CONSOLIDATED : COMPLAINT FOR VIOLATIONS OF THE vs. : FEDERAL SECURITIES LAWS : UBS AG, et al., : Defendants. : x 819129_1 Case 1:12-cv-04924-KBF Document 46 Filed 03/04/13 Page 2 of 138 1. Lead Plaintiffs, Westchester Teamsters Pension Fund and Teamsters Local 456 Annuity Fund (collectively “Plaintiffs”), on behalf of themselves and all other persons similarly situated, allege the following based upon personal knowledge as to themselves and their own acts, and on information and belief as to all other matters, based upon, inter alia, the investigation conducted by and through their attorneys. NATURE OF THE ACTION 2. This is a federal securities class action brought against UBS AG (“UBS” or the “Company”) and certain of its officers for violations of the Securities Exchange Act of 1934 (the “1934 Act”). This action is brought on behalf of all purchasers of UBS securities on any domestic exchange and/or in any domestic transaction, during the period from November 17, 2009 through September 15, 2011 (the “Class Period”), who were damaged as a result of defendants’ violations of the federal securities laws. This action seeks to pursue remedies for violations of the anti-fraud provisions of the federal securities laws.
    [Show full text]
  • Printmgr File
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date: July 29, 2014 Commission File Number: 1-15060 UBS AG (Registrant’s Name) Bahnhofstrasse 45, Zurich, Switzerland, and Aeschenvorstadt 1, Basel, Switzerland (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ⌧ Form 40-F Explanatory Note UBS produces regular quarterly reports, which are filed with the SEC under Form 6-K. These reports are prepared in accordance with International Financial Reporting Standards (IFRS). SEC regulations require certain additional disclosure to be included in registration statements relating to offerings of securities. Certain of this additional disclosure was included with UBS’s second quarter 2014 report submitted to the SEC on Form 6-K on 29 July 2013, and additional disclosure follows herein. This information should be read in conjunction with UBS’s annual report on Form 20-F for the year ended 31 December 2013, filed with the SEC on 14 March 2014, as well as UBS’s first quarter 2014 report and second quarter report 2014 submitted to the SEC on Forms 6-K on 6 May 2014 and 29 July 2014, respectively. Guarantee of PaineWebber securities Following the acquisition of Paine Webber Group Inc. (PaineWebber), UBS AG entered into a full and unconditional guarantee of the senior notes (“Debt Securities”) issued by PaineWebber.
    [Show full text]
  • Why Bernie Madoff Is No Marcel Ospel As Man Swiss Love to Hate
    Why Bernie Madoff Is No Marcel Ospel as Man Swiss Love to Hate By Antonio Ligi and Ben Holland Feb. 24 (Bloomberg) -- Bernard Madoff and R. Allen Stanford could probably go unnoticed in the streets of Zurich. The Swiss are too busy berating Marcel Ospel, who has gone from being Switzerland’s most respected banker in 2007 to the most hated. The former UBS AG chairman, rated the most influential Swiss two years ago, has become the public face of the financial crisis. Television comedian Mike Mueller made him the butt of jokes, rapper Gimma sang a satirical song outside his villa and the newspaper Blick demanded he repay bonuses. He may get a hostile reception at next week’s Basel carnival, a masked march that Ospel has been joining since he was 7 years old. As Citigroup Inc.’s Vikram Pandit and Fred Goodwin of Royal Bank of Scotland Group Plc endured public grilling from U.S. and U.K. lawmakers, Ospel was in seclusion in Switzerland. The 59- year-old is the target of outrage after earning more than any other Swiss banker while running up the largest losses. Many Swiss blame Ospel for importing the American financial crisis to Zurich, and would welcome the chance to tell him so. “I’d like to say to him: ‘You’ve damaged Swiss banking,’” Fredi Sturzenegger, a retired official from a union of bank employees, said as he left the Sternen bratwurst stand -- around the corner from Zurich’s Kronenhalle, one of Ospel’s favorite restaurants. “His ambition was to be at the top.
    [Show full text]
  • Comeback an Die Weltspitze Arbeitslosigkeit Sda
    Donnerstag, 11. Juli 2013 / Nr. 158 11 arkt NEUE LUZERNER ZEITUNG NEUE URNER ZEITUNG NEUE SCHWYZER ZEITUNG NEUE OBWALDNER ZEITUMNG NEUE NIDWALDNER ZEITUNG NEUE ZUGER ZEITUNG Weniger Geburten wegen der Krise Comeback an die Weltspitze ARBEITSLOSIGKEIT sda. Wegen der Wirtschaftskrise sind im zurücklie- genden Jahrzehnt in Europa weniger Kinder geboren worden. Im Durch- schnitt von 28 europäischen Ländern sank die Kinderzahl pro Frau umso stärker, je höher die Arbeitslosen- quote anstieg. Das geht aus einer Studie des Max-Planck-Instituts für demografische Forschung in Rostock hervor, die gestern in der Fachzeit- schrift «Demographic Research» ver- öffentlicht wurde. Wie die Mitautorin Michaela Kreyenfeld gestern sagte, hat die Krise einen europaweiten Aufschwung der Geburtenraten unterbrochen. Besonders deutlich sei das in den südeuropäischen Ländern wie in Spanien und Kroatien, ausser- dem in Ungarn, Irland und Lettland. Besonders Menschen unter 25 Jahren verzichteten bei steigender Arbeits- losigkeit auf Kinder. Das wirkte sich auf die Geburt des ersten Kindes aus. Junge Leute verschieben die Fami- liengründung, wenn sie auf dem Arbeitsmarkt nicht Fuss fassen. Spanien besonders betroffen Ob und wie wirtschaftliche Bedin- gungen das Geburtenverhalten der Menschen beeinflussen, ist nach An- gaben des Max-Planck-Instituts eine der offenen Fragen der demografi- schen Forschung. Die Studie belege für das heutige Europa, dass sich die Höhe der Arbeitslosigkeit im eigenen Kunden zeigen wieder mehr Vertrauen Land durchaus auf die Bereitschaft, in die Schweizer Grossbank UBS; hier Kinder zu bekommen, auswirkt, sag- AUFSCHWUNG Laut einer Die grössten Vermögensverwalter der Eingang des UBS-Gebäudes am te Kreyenfeld. Steige die Arbeitslosen- Zürcher Paradeplatz. rate um 1 Prozent, sinke die Gebur- neuen Studie brachten Reiche Vermögen in Milliarden Dollar Keystone/Walter Bieri tenrate bei den 20- bis 24-Jährigen wieder viel neues Geld zu den um etwa 0,1 Prozent, in Südeuropa 1 UBS 1705 um 0,3 Prozent.
    [Show full text]