Zubulake revisited presents new requirements for effective litigation holds. Whether a companys duty to preserve extends to backup tapes has been a grey area. Early case assessment and esi 3 documents may be sufficient to trigger a preservation obligation. Usres appeals from the january 21, 2014 and may 30, 2014 orders that grant summary judgment and reasonable attorneys fees and costs in favor of defendantrespondent ubs warburg real estate securities, inc. Supreme courts amendments to the federal rules of civil procedure created a category for electronic records that, for the first time, explicitly named emails and instant messaging im chats as likely records to be archived and produced when relevant. Securities and exchange commission litigation release no. Ubs ag respondent v commissioners for her majestys. Ubs warburg llc zubulake v case brief summary 229 f. Ubs warburg llc, 220 fr d 212 217 s d n y 2003 220 f. Ubs warburg llc zubulake i case brief summary 217 f. Ubs warburg is a case heard between 2003 and 2005 in the united states district court for the southern district of new york. Scheindlin issued five groundbreaking opinions in the case of zubulake v ubs warburg. In october 20, finma initiated enforcement proceedings against ubs on the grounds of suspected market abuse in foreign exchange trading.
Ubs litigation latest news concerning litigation against. District court for the southern district of new york found that it was more likely that they existed than not and. Ubs warburg llc the world was a far different place in 1849, when henry david thoreau opined in an admittedly broader context that. We have provided budget numbers which you can use for some of the services, but you may have other ideas for things you would invest in. Ubs warburg case, the plaintiff claimed that the evidence needed to prove its case existed in emails stored on ubs servers. The absence of such documentary proof may stymie the search for the truth. Since the emails requested were either never found or destroyed, the u.
Judge shira scheindlin, presiding over the case, issued a series of groundbreaking opinions in the field of electronic discovery. What is a zubulake, anyway, and how do i pronounce it. His team helps executives, retirees, and business owners ensure that they build a holistic financial plan designed to help them reach their goals. New yorkbusiness wireubs ag announced today that it has suspended further sales from inventory of its outstanding etracs 2xmonthly leveraged long alerian mlp. She subsequently brought suit against her employer under federal, new york state, and new york city law for both gender discrimination and retaliation. A court will weigh the cost of accessing the electronic data using a comprehensive set of factors, and. That 2004 ruling, nicknamed zubulake v because it was the fifth of five pretrial.
If you have forgotten your id or password, select forgot your id or password. Some services, like building new houses, cost a lot of money but will last a long time. Go to spoliation is the destruction or significant alteration of evidence, or the failure to preserve property for anothers use as evidence in pending or reasonably foreseeable litigation. Zubulake filed an initial charge of gender discrimination with the eeoc on august 16, 2001. Ubs warburg standard valuation multiples price earnings ratio price to cash earnings dividend yield price to book ev to sales ev to ebitda ev to ebit ev to operating free cash flow ev to invested capital equity multiples enterprise value multiples global back page data valeo euro per share e 1297 1298 1299e 1200e 1201e.
Defendants seek to preclude any evidence concerning the failure by ubs to preserve several monthly backup tapes. During an ongoing discovery dispute in an employment discrimination case, the employee moved for sanctions against the employer for failing to produce backup tapes containing relevant emails and for failing to produce other relevant documents in a timely manner. During 2003 and 2004, united states district court judge shira a. The case wealth management group is a ubs financial services team located in marblehead, ma. I have just modified one external link on zubulake v. The combining of two or more companies, generally by offering the stockholders of one company securities in the acquiring company in exchange for the surrender of their stock. He has been with ubs for 32 years and is the senior partner of the simon group which provides wealth management services to highnetworth individuals and their families throughout the united states. The case is mastr adjustable rate mortgages trust 2006oa2 et al v. Casemap is software for the prosecution team to organize their key. Bank details clearing number 000279 bicswift ubswchzh12b postal account 8022 internet address s. Millennials hold more than half of their assets in cash 52%, with less than onethird of their assets 28% in equities. She claimed that key evidence was located in various emails exchanged among employees that now. Electronically stored information preservation and.
As we said in the 2q 20 issue of ubs investor watch, investors now define risk as permanent portfolio losses, and millennials seem to agree with that definition. Looking back on zubulake, 10 years later aba journal. We expect that investors who are in the midst of repairing their personal balance. The activities of the undertakings concerned are mainly complementary. Ubs ag respondent v commissioners for her majestys revenue and customs appellant judgment date. Zubulake v ubs warburg llc litigation support guru. May, 2003 zubulake ii addressing zubulake s reporting obligations. The case wealth management group strives to provide advice tailored to your individual circumstances and all youd like your wealth to achieve. Judgment pdf press summary pdf judgment on bailii html version. Electronically stored information preservation and collection. Plaintiff laura zubulake filed suit against her former employer ubs, alleging gender discrimination, failure to promote, and. An investigator mandated directly by finma examined market conduct at the foreign exchange division of the ubs investment bank in zurich, as well as scrutinizing the internal management processes and internal organisation of controls. Ubs on aft ershocks 2 summary the global financial crisis and its a ft ershocks fundamentally altered the investment landscape, and investors will need to cope with the results for years to come.
These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of justia. Finma sanctions foreign exchange manipulation at ubs. Bna 1574 may, 2003, decided may, 2003, filed subsequent history. Plaintiff employee sued defendant, her former employer, under federal, state and city law for gender discrimination and illegal retaliation. Whilst her decision on sanctions in zubulake v ubs warburg is the one which has grabbed the headlines, her opinions in that case also covered wider aspects of the duties which arise on discovery, including the lawyers responsibility to ensure that their clients preserve electronic. If documents are lost or destroyed when they should have been preserved because a litigation was threatened or pending, a party may be prejudiced. Lord neuberger, lord mance, lord reed, lord carnwath, lord hodge. Ubs suspends further sales of etracs 2xmonthly leveraged. In august of 2001 laura zubulake filed a claim with the eeoc against her employer ubs warburg llc alleging gender discrimination. For additional help, call customer support at 18005436862. If you have any questions, or need the bot to ignore the links, or the page altogether, please visit this simple faq for additional information. Ubs warburg, zubulake i, the world was a far different place in 1849, when henry david thoreau opined in an admittedly broader context that the process of discovery is very simple. Plaintiff employee, in an employment discrimination dispute, filed a fed. A court will weigh the cost of accessing the electronic data using a comprehensive set of factors, and will determine whether the data should be available for discovery, and which party to place the cost of the discovery.