Fiserv, TD Settle Coverage Suit Over Madoff Losses

Law360, New York (September 16, 2011, 10:06 PM EDT) -- Aspen Insurance UK Ltd. and Lloyd’s of London on Friday settled their California suit against Fiserv Inc. and TD Ameritrade Holding Corp. over coverage for as much as $1 billion in claims related to Bernard Madoff’s Ponzi scheme.

The settlement also resolves class actions and arbitration proceedings brought by individual retirement account investors who directed that at least some of their funds be invested with Madoff, according to a motion granted by U.S. District Judge Christine M. Arguello dismissing all claims and counter-claims with prejudice. The...
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