Collins Capital Hit With Investor Action Over Madoff

Law360, New York (September 24, 2009, 4:11 PM EDT) -- Investors in funds managed by Collins Capital Investments LLC have filed an amended class action against the firm, alleging it placed a “significant portion” of investor money with convicted fraudster Bernard Madoff.

In an amended complaint filed Wednesday in U.S. District Court for the Southern District of Florida, lead plaintiff West Palm Beach Police Pension Fund sought to recover damages from assets transferred to an alleged feeder fund for Madoff's Ponzi scheme.

The suit says Collins Capital and related entities breached their fiduciary duties in failing...
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