US Supreme Court Grants Certiorari in UBS Shareholder Derivative Case

On behalf of UBS Financial Services Incorporated of Puerto Rico and UBS Trust Company of Puerto Rico, Skadden has obtained a grant of certiorari from the U.S. Supreme Court, announced on June 24. UBS sought certiorari to resolve a circuit court split over the standard of review for appeals of dismissals pursuant to Rule 23.1 of the Federal Rules of Civil Procedure.