Attys Blast NY AG's Objection To $41M Fee In Madoff Action

Law360, New York (March 4, 2013, 2:45 PM EST) -- Attorneys for a class of investors on Friday slammed New York Attorney General Eric Schneiderman’s objection to a $41 million fee request in a joint $219 million settlement over an investment firm’s role in the Bernard Madoff Ponzi scheme, saying Schneiderman was undervaluing the work of private counsel.

If approved by a New York federal court, the settlement would resolve claims against Ivy Asset Management LLC by Schneiderman’s office, the U.S. Department of Labor and private investors. The company, an investment advisory firm owned by Bank...
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