NEW YORK (TheStreet) -- UBS
(UBS) shares are down today after the bank reported that its alternative off-exchange marketplace, also know as a dark pool, is being investigated by the SEC.
UBS revealed that the SEC has been investigating the Swiss bank since 2012, and that it could potentially be facing a class action lawsuit brought against it by traders in a New York federal court.
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The lawsuit claims that the company's dark pools violated federal law by favoring high frequency traders over other traders in the market.
UBS shares are down -1.9% to $17.98 on Tuesday.
UBS data by YCharts
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