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By Market News Video Staff, Wednesday, November 24, 1:00 PM ET
A trustee for victims of Bernard Madoff sued UBS (NYSE:UBS) and other firms today for $2 billion, alleging that they engaged in financial fraud and misconduct.
UBS sponsored feeder funds that funneled money to Madoff, and the suit alleges that the firm ignored signs of fraud in Madoff’s activities.
UBS shares are trading flat Wednesday.
UBS makes up 1.88% of the BLDRS Europe 100 ADR Index Fund (NASDAQ:ADRU).
Top holdings include HSBC (NYSE:HBC), at 6.07% of the fund, Vodafone (NASDAQ:VOD), which is 4.69% of the portfolio, and Novartis (NYSE:NVS), at 4.34% of the fund.
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