Santander Investors Fight To Stay In Madoff Case

Law360, New York (May 17, 2011, 1:56 PM EDT) -- Foreign investors tossed from a putative class action implicating Banco Santander SA in the Bernard Madoff fraud urged a New York federal judge Monday to reconsider the scope of the forum selection clause in Santander’s account agreement.

A faction of three U.S. citizens living in the Bahamas urged the court to review Santander’s investment contracts, pointing to a specific clause that they say contradicts the court’s recent holding that Santander entities accused of fraud are entitled to the forum selection clause.

The plaintiffs are among the...
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