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...
To view the full article, register now.




Case Information

Case Title

Molchatsky et al v. United States Of America

Case Number



New York Southern

Nature of Suit

Other Statutory Actions


Laura Taylor Swain

Date Filed

October 14, 2009

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.