Overview
- Hayes filed a malicious‑prosecution complaint in Connecticut state court, with a similar case reported in New York, and UBS declined to comment.
- The suit alleges UBS misled prosecutors, portrayed Hayes as an "evil mastermind," and stage‑managed a narrative to shield senior executives and limit penalties.
- Hayes seeks more than $400 million for the loss of his career and liberty, reputational damage, and physical and mental harm, and he is also seeking punitive damages.
- His 2015 conviction was quashed on July 23 when the UK Supreme Court found the trial judge misdirected the jury, while noting a properly directed jury could still have convicted.
- UBS previously paid about $1.5 billion in 2012 to settle regulatory charges tied to Libor, a benchmark that underpinned trillions in contracts and was later phased out.