United States Second Circuit
WC Capital Management, LLC v. UBS Securties, LLC, 11-122
Judgment for defendants on plaintiffs' claims of securities violations is affirmed, where: 1) defendant's disclosures here did not violate Rule 10b-16(a), which requires disclosure of a broker's policies regarding circumstances that may trigger a margin call, even though defendant did not expressly disclose the more complex formulas it employed to calculate plaintiffs' collateral requirements; and 2) defendant complied with Rule 10b-16(b), which does not require a broker to provide advance notice to customers before it changes its margin policies.
Appellate Information
- Decided 04/01/2013
- Published 04/01/2013
Judges
- LOHIER
Court
- United States Second Circuit