Madoff Victims Seek To Revive $2.4M Suit Against SEC

Law360, New York (October 28, 2011, 5:55 PM EDT) -- A pair of investors in Bernard Madoff's Ponzi scheme asked a New York federal judge on Friday to revive their $2.4 million suit against the U.S. Securities and Exchange Commission, arguing the agency's admitted destruction of files related to its Madoff investigation spoils its immunity claim.

The investors said the SEC clearly botched its investigation into Madoff and his firm, Bernard L. Madoff Investment Securities LLC, and as a result should not enjoy a shield against liability for its failings. In September, five months after the...
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