BBW reports that “Rukavina is one of two liquidators who in December sued UBS and Ernst & Young over Access International Advisors LLC’s LuxAlpha Sicav-American Selection Fund, which once had $1.4 billion in net assets.”
A UBS spokesperson stated that this development was not unexpected and we’re sure that E&Y isn’t yawning at this news, chalking it up to fairly typical Monday.
So in case you’ve been in a coma for the last week or so, you’re probably aware that JT and Co. haven’t had such a great March. Anyone got ideas for how they turn all these frowns upside downs? Do Canadian Tuxedos become standard dress code M – F? Does Jimbo send everyone a complimentary pair of Timberlands? An E&Y Hitler video to lighten the mood? Suggestions are welcome.
UBS, Ernst & Young Sued by Madoff-Fund Liquidators [Bloomberg BusinessWeek]