Judge Retains Most Claims Against Ivy In ERISA Suit

Law360, New York (October 5, 2010, 6:01 PM EDT) -- A judge has denied a majority of requests by Ivy Asset Management LLC to dismiss claims brought against it by a class of retirement plan investors who say the company negligently invested $227 million of their nest eggs with convicted fraudster Bernard L. Madoff.

Ivy failed to convince Judge Leonard Sand of the U.S. District Court for the Southern District of New York to dismiss all of the plaintiffs’ claims that the Bank of New York Mellon Corp. investment unit violated Section 10(b) of U.S. Securities...
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