UBS Faces IRS Fight Over Names, Shrs Rise on Deal

The U.S. government widened its legal assault on tax dodgers using secret offshore accounts on Thursday as it sued UBS AG to obtain the names of thousands of the Swiss bank's rich U.S. clients. The lawsuit, filed in Miami federal court, came just a day after UBS agreed to pay $780 million and identify some clients in a deal to resolve criminal fraud charges that it helped wealthy Americans evade taxes. For more information, see attached pdf.