Investment Manager JML Ducks Madoff Investor Suit

Law360, New York (April 23, 2010, 3:00 PM EDT) -- A federal judge has dismissed JML Portfolio Management Ltd. from a proposed class action over investors' losses from a fund invested with Bernard L. Madoff, saying claims against the Switzerland-based money manager belong in a Swiss court.

Judge John Antoon of the U.S. District Court for the Middle District of Florida on Thursday dismissed all the investors' claims against JML on the ground that the forum selection clause in the Swiss investment manager's contract was unambiguous.

That clause deemed the Swiss courts the “exclusive jurisdiction” for...
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