Madoff Trustee Strikes $550M Settlement With Shapiro

Law360, New York (December 7, 2010, 7:53 PM EST) -- The trustee working to recover funds for victims of Bernard L. Madoff has reached a $550 million settlement with the family of businessman and philanthropist Carl Shapiro, part of a $625 million deal that will also resolve the federal government's civil forfeiture claims.

"This agreement represents a financially rewarding outcome, and it is a strong example of the progress we are making in assembling the largest fund possible for the benefit of [Bernard L. Madoff Investment Securities LLC] customers with valid claims," said Baker & Hostetler...
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