Conn. Town Can’t Revive Suit Over $42M Madoff Losses

Law360, New York (August 10, 2011, 7:58 PM EDT) -- A Connecticut town on Wednesday lost its bid to reverse a state court ruling dismissing its suit against two Fairfield Greenwich Group partners who allegedly caused the town’s pension fund to lose $42 million in Bernard L. Madoff’s Ponzi scheme.

The Connecticut Appellate Court unanimously found that the trial court correctly dismissed the claims against Fairfield Greenwich partners Walter M. Noel Jr. and Jeffrey H. Tucker after ruling that the town of Fairfield was not directly harmed by the actions of the men, who the town...
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