UBS Loses Bid to Toss Chinese Tycoon’s $500 Million Suit (1)

UBS Group AG lost a second attempt to throw out a $500 million lawsuit brought by an exiled Chinese tycoon over a costly margin call in 2015.

Appeal judges ruling that Guo Wengui, a one-time billionaire, can continue his case to trial, in a setback for the Swiss bank. The judges said that UBS’ London operations were heavily involved in executing the trades that led to Guo’s loss.

Guo, who previously boasted of his close ties to former Donald Trump adviser Steve Bannon, has lived in exile in the US for more than seven years. He is currently ...