Judge Quashes Challenge To $7B Picower Deal In Madoff Case

Law360, New York (March 26, 2012, 11:11 PM EDT) -- A New York federal judge on Monday dismissed challenges by investors in Bernard L. Madoff’s Ponzi scheme to a portion of the $7.2 billion settlement between the Madoff liquidation trustee and the estate of Jeffry Picower, a former Madoff client.

U.S. District Judge John G. Koeltl said investors Adele Fox and Susanne Stone Marshall — who had opposed a permanent injunction to bar similar lawsuits after the settlement was approved in January 2011 — were trying to pursue the same damages sought by other customers of...
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