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Paul Hastings

Litigation 2011

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Award levelHighly commended
InnovationDefence of UBS in a precedent-setting dismissal of investor class actions
Originality6
Rationale7
Impact8
Total21
DescriptionInverting the normal approach in class action cases, the firm focused on the plaintiffs' damages rather than the merits of the case. The lawyers argued the plaintiffs had effectively already received a full refund of their auction-rate securities investments and could no longer seek damages.