In our newsletter of January 12, 2024, we informed you that the Zurich Commercial Court had received UBS’ statement of defense and that we were waiting for it to be forwarded to us.
We inform you that Mr. Andreas Hauenstein, attorney-at-law, has today received UBS’ statement of defense, which comprises 147 pages. In addition, the court has also decided :
- to merge all exchange ratio control proceedings (Merger Act 105) opened against UBS into a single proceeding (representing 37 other plaintiffs);
- to set a deadline of 20 days for UBS to inform the court of all other proceedings with a similar legal basis opened against UBS worldwide.
Given the length of the statement of defense and its complexity, we need a few days to prepare the mailing, as well as a summary in English. We should be able to send it to you by the end of next week.
So do not worry if you do not receive a copy of the statement of defense by Friday, February 23, 2024. For the sake of equal treatment, we always communicate any news to all newsletter subscribers simultaneously and spontaneously. So there is no need to write or call us to request a copy of documents or news. We will do our best to keep you informed as quickly as possible.