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UBS to fight expected US lawsuit over mortgage securities

Swiss banking giant says it was not a ‘significant originator’ of these mortgages

UBS will fight an expected civil complaint from the US Department of Justice over its issuance, underwriting and sale of residential mortgage-backed securities before the financial crisis, the Swiss banking giant said Thursday.

“The DOJ’s claims aren’t supported by the facts or the law. UBS will contest any such complaint vigorously in the interest of its shareholders. UBS is confident in its legal position and has been fully prepared for some time to defend itself in court,” the bank said.

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