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|08 November, 2018

UBS expects to be sued by U.S. Justice Dept over crisis-era mortgage securities

Civil charges related to the sale of mortgage-backed securities

Image used for illustrative purpose. Logo of Swiss bank UBS and a slogan reading 'we will not rest' is seen in a window of a building at Paradeplatz square in Zurich.

Image used for illustrative purpose. Logo of Swiss bank UBS and a slogan reading 'we will not rest' is seen in a window of a building at Paradeplatz square in Zurich.

REUTERS/Michael Buholzer

UBS , Switzerland's largest bank, said it expects to be sued by the U.S. Department of Justice as early as Thursday on civil charges related to the sale of mortgage-backed securities in the run-up to the 2008-09 financial crisis, according to a company statement.

The bank said the claims were not supported by the facts or the law and it would contest any such complaint "vigorously."

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(Reporting by Karen Freifeld; Editing by Chris Reese) ((Karen.Freifeld@thomsonreuters.com;))