Ace Decade Holdings’ lawsuit over a $500 million investment loss against the Swiss banking and financial services company UBS AG belongs in Hong Kong, not in New York, a Manhattan judge has ruled.
Commercial Division Justice Eileen Bransten on Thursday dismissed all of Ace Decade’s claims in the fraud and breach of fiduciary duty lawsuit, which was filed in 2015. In a detailed, 27-page decision on a motion to dismiss, Bransten ruled that Ace Decade had no personal jurisdiction in New York state for its claims against UBS.
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