Fla. Madoff Suits Stayed Pending Action By Trustee

Law360, New York (May 3, 2010, 2:38 PM EDT) -- A federal bankruptcy judge has stayed putative class actions launched by two Florida residents who fell victim to Bernard Madoff's Ponzi scheme against fellow investors who profited from the scheme before its collapse, saying the trustee in the case is the party responsible for seeking and redistributing the funds.

Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York on Monday granted a motion by the trustee for the liquidation of bankrupt Bernard L. Madoff Investment Securities LLC to enforce...
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