You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

UBS warns of new legal costs

GENEVA — Shares in Swiss bank UBS skidded lower Tuesday after it warned it may miss its earnings targets due to the potential costs of new legal cases.

The stock fell 7.7 percent to 17.70 Swiss francs in Zurich despite a return to profit in the third quarter, as investors feared the bank may not be past the problems that had plagued it in recent years.

Continue reading below

Switzerland’s biggest bank said it had a third-quarter profit of $644 million, a turnaround from the $2.3 billion loss it had in the same period a year ago.

But the Zurich-based group said it probably would not be able to achieve its profit goals for 2015 because of Swiss regulatory demands that it hold significantly more capital for risks from litigation.

UBS AG confirmed it was one of several global banks being investigated by authorities in Switzerland, the United States, and Britain for allegedly manipulating foreign exchange rates. It said it is reviewing its operations in its foreign exchange operations.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
or
Please enter a valid email
BostonGlobe.com will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com