Swatch Group AG (UHR.VX) Friday said it filed a lawsuit against UBS AG (UBS) in a Zurich court this week on absolute-return investment products the Swiss bank sold to the watchmaker in 2009.

A spokeswoman for the Biel-based firm declined to comment on the damages Swatch is seeking from UBS, or to elaborate. According to past comments by Swatch Chief Executive Nick Hayek, the lawsuit stems from failed absolute-return investments sold by UBS to Swatch in 2009. An initial attempt to find a solution outside of court late last year failed.

UBS wasn't immediately for comment.

-By Katharina Bart, Dow Jones Newswires; +41 43 443 8043; katharina.bart@dowjones.com
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