Madoff Feeder Fund Class Action Gets The Boot

Law360, New York (November 29, 2011, 9:37 PM EST) -- A New York federal judge on Tuesday tossed a multibillion-dollar action against more than 60 defendants, brought by a putative class of investors in foreign funds that fed Bernard L. Madoff's doomed Ponzi scheme, saying the claims belonged in courts outside the U.S.

U.S. District Judge Richard M. Berman dismissed claims against JPMorgan Chase & Co. and its affiliates and Bank of New York Mellon Corp. as barred by the Securities Litigation Uniform Standards Act of 1998. The judge then nixed the case against the remaining...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.