SEC Advises High Court To Leave Madoff Investor Suits Alone

Law360, New York (May 25, 2012, 5:55 PM ET) -- The U.S. Securities and Exchange Commission on Thursday advised the U.S. Supreme Court not to review cases challenging the methods of the trustee liquidating Bernard L. Madoff’s Ponzi scheme, which would allow the trustee to start distributing roughly $9 billion to victims.

The Supreme Court had asked the commission to weigh in on the issue of whether Irving Picard, liquidating trustee for the Madoff estate, is using the right formula to pay back victims of the investment scam after three separate suits came before the high...
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