When you work for UBS, on any given day of the week, you know there are an endless amount of ways for your company to potentially embarrass itself. Obviously there’s the ‘lose, like, insane amounts of money’ route, in addition to the tax stuff– always good for a little egg on the face– but also lots of much more creative ways to get the job done that don’t take much man power. For example, you could piss off a client so much that he makes good on his threat to chain a bull to the side of your building. Or, you could get shitfaced at a strip club and while being arrested for driving while under the influence (and carrying an unlicensed firearm), feel the need to tell the officer you’re a managing director at the Swiss bank. And so on and so forth. Alternatively, if you’re an unimaginative fuck but still want to do the brand proud, you could just go with a move de rigeur among lazy high school students.
UBS AG’s U.K. unit was sued for allegedly copying articles from oil and gas publications and reprinting them in the investment research it distributed to clients.
Energy Intelligence Group Inc., based in New York, said its publications, which include International Oil Daily, World Gas Intelligence and Petroleum Intelligence Weekly, were copied by UBS Ltd. at least 10 times during 2006 and 2007, according to the lawsuit. Energy Intelligence articles or portions of them were reprinted in UBS’s own investment research publication, Daily Oil News, according to the suit filed in a London court last month and made public this week.
UBS analyst Jon Rigby had a single-user subscription for the Energy Intelligence publications beginning as long as 10 years ago, according to the suit. Rigby, based in London, is the global coordinator of the bank’s Daily Oil News publication, which is distributed in at least 17 countries including the U.S., U.K., Germany, Russia and China, Energy Intelligence said.
UBS, based in Zurich, has been copying the publications “in a systematic manner over a long period of time for the purposes of enhancing its profile and reputation amongst its customers and potential customers,” according to the lawsuit. “The defendant threatens and intends to repeat the acts of infringement.” The bank showed “cynical disregard” by printing its own copyright prohibiting the redistribution of the material on each publication of Daily Oil News, according to Energy Intelligence.
UBS Sued For Copying Reports [Bloomberg]