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HOME :: RESEARCH :: FINANCE :: NEWS:: DEC 2008

Plug settles lawsuit with UBS


Fuel-cell system manufacturer Plug Power Inc. has settled a lawsuit against UBS Financial Services Inc. alleging the firm mismanaged $62.87 million of Plug’s investments.

The Latham, N.Y., company (Nasdaq: PLUG) sued UBS in U.S. District Court in May, claiming the Swiss investment firm improperly invested the money in “unsuitable and illiquid” auction-rate securities. The securities are bonds whose interest rates are reset through periodic auctions.

read entire article on Business Review

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