Judge Certifies Classes In Madoff-Linked Funds Suits

Law360, New York (March 14, 2012, 8:06 PM EDT) -- A New York federal judge on Wednesday certified several classes and subclasses of investors that alleged several investment firms, including Ivy Asset Management LLC, channeled hundreds of millions of dollars in union pension funds to imprisoned fraudster Bernard L. Madoff.

U.S. District Judge Leonard B. Sand approved a class and a subclass to litigate claims brought under the the Securities Exchange Act of 1934 or the Investment Advisers Act of 1940, and another class and subclass to litigate claims brought under the Employee Retirement Income Security...
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