Investor Suits Over Merkin's Madoff Feeder Funds Nixed

Law360, New York (September 26, 2011, 7:21 PM EDT) -- A New York federal judge let three hedge funds owned by J. Ezra Merkin off the hook Friday in a consolidated class action claiming they negligently funneled billions of investor dollars to perpetuate Bernard L. Madoff's massive Ponzi scheme.

    U.S. District Judge Deborah A. Batts   U.S. District Judge Deborah A. Batts dismissed with prejudice claims against the Ascot Fund Ltd., the Ariel Fund and the Gabriel Fund alleging violations of the Securities Exchange Act, gross negligence, breach of fiduciary duty, unjust enrichment and negligent misrepresentation....
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