Securities Litigation and News For The Week Ending August 9

Another case involving mortgage-backed securities, this time at Bank of America; UBS Securities settles over an alleged failure to disclose fees and agrees to a civil penalty plus $34,408,183 disgorgement; a hedge fund manager who diverted funds for personal use and sent false account statements to customers pleads guilty to wire and mail fraud; and an alert to beware of “old-fashioned phishing.”