UBS has asked a Connecticut court to throw out a suit filed by former trader Tom Hayes that accuses the Swiss lender of handing him over to global prosecutors to protect the bank and its senior leadership during the Libor rigging scandal. Lawyers for UBS described Hayes’ allegations as “spurious” and said that he cannot prove that UBS prosecuted him or acted maliciously, because UBS wasn’t a party to the U.K. criminal proceedings. “Despite the bank’s efforts to deflect attention elsewhere, UBS’s purely procedural motion is a desperate attempt to avoid having discovery into the facts and having the case heard on its merits,” a spokesperson for Hayes said.
