Ernst & Young Let Out Of Tremont Suit Over Madoff

Law360, New York (September 14, 2009, 1:11 PM EDT) -- Accounting firm Ernst & Young LLP has been dismissed from a suit brought by a group of life insurance trusts against Tremont Capital Management Inc. over losses stemming from Bernard L. Madoff's estimated $65 billion Ponzi scheme.

Judge Thomas P. Griesa of the U.S. District Court for the Southern District of New York signed off Friday on the voluntary dismissal, noting that the plaintiffs and Ernst & Young had agreed to a stipulation to dismiss the case without prejudice.

Ernst & Young was one of several...
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