of Swiss bank UBS is seen at a branch office in Zurich October 29, 2013. REUTERS

ReutersEDITION:U.louis vuitton neverfull gm ReutersEDITION:U.[url=http://www.tustininformationcenter.com title=louis vuitton usa]louis vuitton usa[/url]S.S. SIGN INREGISTER HOME BUSINESS MARKETS WORLD POLITICS TECH OPINION BREAKINGVIEWS MONEY LIFE PICTURES VIDEO Login or registerLatest from My Wire UBS ruled not liable to U. SIGN INREGISTER HOME BUSINESS MARKETS WORLD POLITICS TECH OPINION BREAKINGVIEWS MONEY LIFE PICTURES VIDEO Login or registerLatest from My Wire UBS ruled not liable to U.S.S. shareholders for rogue trader BY JONATHAN STEMPEL NEW YORK Fri Dec 13, 2013 6:08pm EST 0 COMMENTS inShare 3 Share this Email Print The logo of Swiss bank UBS is seen at a branch office in Zurich October 29, 2013.louis vuitton neverfull gm shareholders for rogue trader BY JONATHAN STEMPEL NEW YORK Fri Dec 13, 2013 6:08pm EST 0 COMMENTS inShare 3 Share this Email Print The logo of Swiss bank UBS is seen at a branch office in Zurich October 29, 2013. REUTERS/Arnd Wiegmann The logo of Swiss bank UBS is seen at a branch office in Zurich October 29, 2013. REUTERS/Arnd Wiegmann The logo of Swiss bank UBS is seen at a branch office in Zurich October 29, 2013. CREDIT: REUTERS/ARND WIEGMANN (Reuters) - U. CREDIT: REUTERS/ARND WIEGMANN (Reuters) - U.[url=http://www.tustininformationcenter.com title=louis vuitton tote]louis vuitton tote[/url]S.S. securities laws have their limits and do not justify making UBS AG liable to shareholders for touting its ability to control risk even as it harbored a rogue trader who caused $2.louis vuitton usa securities laws have their limits and do not justify making UBS AG liable to shareholders for touting its ability to control risk even as it harbored a rogue trader who caused $2.3 billion of losses, a federal judge ruled on Friday.3 billion of losses, a federal judge ruled on Friday. U. U.S.S. District Judge Katherine Forrest in Manhattan threw out a lawsuit seeking to hold the Swiss bank responsible for shareholder losses stemming from revelations about unauthorized and fictitious trades made by former UBS trader Kweku Adoboli.louis vuitton tote District Judge Katherine Forrest in Manhattan threw out a lawsuit seeking to hold the Swiss bank responsible for shareholder losses stemming from revelations about unauthorized and fictitious trades made by former UBS trader Kweku Adoboli.[url=http://www.tustininformationcenter.com title=louis vuitton outlet online]louis vuitton outlet online[/url] Adoboli, a British trader born in Ghana, was convicted in November 2012 of fraud and sentenced to seven years in prison. Adoboli, a British trader born in Ghana, was convicted in November 2012 of fraud and sentenced to seven years in prison. He admitted at trial to making his trades to hide his risk exposures, but said he was trying to make money for the bank. He admitted at trial to making his trades to hide his risk exposures, but said he was trying to make money for the bank. Plaintiffs led by two pension funds in Elmsford, New York, claimed that before Adoboli\'s trades were revealed on September 15, 2011, UBS officials including then-Chief Executive Oswald Gruebel had misled investors by frequently touting the bank\'s internal controls and \"disciplined\" risk culture. Plaintiffs led by two pension funds in Elmsford, New York, claimed that before Adoboli\'s trades were revealed on September 15, 2011, UBS officials including then-Chief Executive Oswald Gruebel had misled investors by frequently touting the bank\'s internal controls and \"disciplined\" risk culture. They said UBS \"incentivized\" traders to take high risks and didn\'t properly monitor activity, and should be responsible to shareholders for the more than 10 percent decline in its stock price after Adoboli\'s trades became known.louis vuitton neverfull gm They said UBS \"incentivized\" traders to take high risks and didn\'t properly monitor activity, and should be responsible to shareholders for the more than 10 percent decline in its stock price after Adoboli\'s trades became known. In a sharply worded decision, Forrest said securities laws do not require banks to be \"prescient or omniscient,\" such that UBS should be liable for what \"at most\" reflected \"internal management issues\" and \"competing incentives. In a sharply worded decision, Forrest said securities laws do not require banks to be \"prescient or omniscient,\" such that UBS should be liable for what \"at most\" reflected \"internal management issues\" and \"competing incentives.\" The judge, who presided this summer at the civil fraud trial of former Goldman Sachs Group Inc vice president Fabrice Tourre, said banks\' close ties to recent financial events does not mean they should always be liable when things go wrong.\" The judge, who presided this summer at the civil fraud trial of former Goldman Sachs Group Inc vice president Fabrice Tourre, said banks\' close ties to recent financial events does not mean they should always be liable when things go wrong.[url=http://www.tustininformationcenter.com title=louis vuitton usa]louis vuitton usa[/url] \"Over the past several years, it has been ever so easy to make banks the target of lawsuits alleging securities fraud: what banks said, how those statements failed to match up to what happened, and who did or should have known,\" she wrote. \"Over the past several years, it has been ever so easy to make banks the target of lawsuits alleging securities fraud: what banks said, how those statements failed to match up to what happened, and who did or should have known,\" she wrote. \"One might think of the tired but appropriate phrase \'shooting fish in a barrel.louis vuitton outlet online \"One might think of the tired but appropriate phrase \'shooting fish in a barrel.\' \"But the securities laws have limits; and it is the responsibility of the courts to ensure that those limits are enforced, and that lawsuits which cannot withstand the most basic scrutiny find their way into whatever great beyond awaits suits dismissed for failure to state a claim,\" she wrote.\' \"But the securities laws have limits; and it is the responsibility of the courts to ensure that those limits are enforced, and that lawsuits which cannot withstand the most basic scrutiny find their way into whatever great beyond awaits suits dismissed for failure to state a claim,\" she wrote. The lead plaintiffs are the Westchester Teamsters Pension Fund and Teamsters Local 456 Annuity Fund in Elmsford, New York. The lead plaintiffs are the Westchester Teamsters Pension Fund and Teamsters Local 456 Annuity Fund in Elmsford, New York. Tor Gronborg, a partner at Robbins Geller Rudman & Dowd who represents them, declined to comment. Tor Gronborg, a partner at Robbins Geller Rudman & Dowd who represents them, declined to comment. UBS spokeswoman Megan Stinson said the bank is pleased with the decision.louis vuitton neverfull gm UBS spokeswoman Megan Stinson said the bank is pleased with the decision.[url=http://www.tustininformationcenter.com title=louis vuitton outlet online]louis vuitton outlet online[/url] The case, which names a different plaintiff, is C. The case, which names a different plaintiff, is C.D.D.T.T.S.louis vuitton toteS. 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(Reporting by Jonathan Stempel in New York; Editing by Leslie Adler) FILED UNDER: MONEY Tweet this Link this Share this Digg this Email Print Reprints More From Reuters Three injured in Antarctic chopper emergency-landingDec 02 Fitch: UBS\' Q213 Results Show Solid Operating PerformanceJul 31 Deals of the day -- mergers and acquisitionsJun 17 Goldman must pay legal fees for ex-programmer accused of ....louis vuitton neverfull gm.Oct 22 Child bride in Yemen dies of internal bleeding on .Oct 22 Child bride in Yemen dies of internal bleeding on ...[url=http://www.tustininformationcenter.com title=louis vuitton neverfull gm]louis vuitton neverfull gm[/url]..Sep 10 From Around the Web Credit Cards With No Interest Until 2015? Yep.louis vuitton toteSep 10 From Around the Web Credit Cards With No Interest Until 2015? Yep. Next Advisor 5 Naughty Things Your Credit Card Wont Buy Bank Rate Jaguar Powers Into New Territory with C-X17 Crossover . 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