Switzerland's UBS ( UBS ) will not take legal action against former employees for racking up the massive losses on subprime mortgages that left the company needing a bailout. Kaspar Villiger, the UBS chairman, said that company was looking to the future, according to The Associated Press. "What happened should not have been allowed to happen. With our decision to refrain from legal proceedings, we... Continue reading UBS Will Not Take Legal Action Over Subprime Losses UBS Will Not Take Legal Action Over Subprime Losses originally appeared on DailyFinance on Thu, 14 Oct 2010 08:10:00. Filed Under: Company News , Economy , People , Taxes , Credit , Market News Permalink | Tweet this! | Comments