Contray To Reports, DOJ Said It's Not Dropping Case Against UBS

After trading much higher earlier, shares of UBS AG (NYSE: UBS) are losing steam on reports that the DOJ is not dropping its lawsuit against the company for helping U.S. customers avoid paying taxes.

A New York Times story today quoted a U.S. official saying the government may drop the case. The DOJ said, "There is no basis for the report in the New York Times."

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