From correspondent KT:
I have now learned from the clerk of the North District Court of Illinois that Mather Thomas and Himanshue Patel have filed there a class action suit against UBS, Case No.1 : 11-CV-4798.
The law firm handling this case is David R. Deary, 12377 Merrit Drive, #900, Dallas, Texas, 75251-3102, Tel: 1-214-572-1700.
You may make use of this information as you see fit.
This was inevitable.
EDIT: I heard from David Deary. From his email:
Yes. You heard correctly. We have filed a class action. We feel very confident in our case. * * * * We have been very successful over the last 7 years representing clients in tax shelter litigation all across the country against law firms, accounting firms and investment banks and intend on having the same success against UBS.