Skadden secured the dismissal of remanded shareholder derivative claims brought against UBS Financial Services Incorporated of Puerto Rico, UBS Trust Company of Puerto Rico and directors of UBS-managed mutual funds alleging violations of federal securities and Puerto Rico laws. On July 9, Judge Aida M. Delgado-Colon of the U.S. District Court for the District of Puerto Rico agreed with Skadden's argument that the plaintiffs lacked standing and dismissed the claims without prejudice.