Legal Opinion
General Retirement System of Detroit v. Ubs, Ag
District Court, E.D. Michigan
Decided June 30, 2011No. Case 10-CV-13920PublishedCited by 5 opinions
1Opinion of the Court
ORDER GRANTING IN PART AND DENYING IN PART DEFENDANTS’ MOTION TO DISMISS [DOC. 17] AND ORDERING AMENDMENT OF THE COMPLAINT
GEORGE CARAM STEEH, District Judge.
Plaintiffs are the General Retirement System of the City of Detroit (“GRS”) and the Police and Fire Retirement System of the City of Detroit (“PFRS”) (collectively, the “Systems”). The Systems are pension plans established by the Charter and Municipal Code of the City of Detroit. The Systems filed this action against UBS Securities, LLC, UBS AG, and UBS Investment Bank, alleging that the UBS defendants fraudulently induced the Systems…
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