Madoff Feeder Fund Sues Ernst & Young For $900M

Law360, New York (December 5, 2011, 3:07 PM EST) -- Liquidators of a defunct feeder fund that invested in Bernard L. Madoff's massive Ponzi scheme filed a $900 million negligence lawsuit on Sunday against accounting firm Ernst & Young LLP.

M-Invest Ltd., an entity created by Geneva-based Union Bancaire Privee, says its books were not properly audited from 2003 to 2007, the five years preceding the December 2008 collapse of Madoff's scheme.

“This action is for negligence, professional malpractice and breach of contract in connection with audits performed on plaintiff M-Invest Limited’s annual financial statements,” M-Invest...
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