Pension Funds Lose Bid To Revive Madoff Feeder Claims

Law360, New York (April 17, 2013, 6:35 PM EDT) -- A New York federal judge on Tuesday declined to revive claims from a pair of consolidated securities and Employee Retirement Income Security Act class actions brought by a group of pension funds accusing two investment companies of negligently feeding money into Bernie Madoff's Ponzi scheme.

U.S. District Judge Thomas P. Griesa said the lawsuits, one against Austin Capital Management Ltd. and the other against Meridian Funds Group, both involved investments in the Madoff feeder fund Rye Select Broad Market Prime Fund LP, which was managed by...
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