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E-mail leak cost UBS a slice of GM IPO, SEC told

Swiss bank UBS is no longer working on General Motors’ initial public stock offering because a bank employee leaked information about the sale in an unauthorized e-mail, a person briefed on the matter said Wednesday.

GM disclosed the e-mail in a filing with the Securities and Exchange Commission. UBS had been listed as a proposed underwriter in GM’s IPO until Nov. 3, when it was dropped without explanation. Get the full story »