Supreme Court Scraps Madoff Victim Coverage Suit

Law360, New York (December 12, 2011, 12:14 PM EST) -- The U.S. Supreme Court refused Monday to resurrect a New York investment firm's suit seeking $1.2 million from Travelers Casualty and Surety Co. of America over alleged losses to an employee benefits plan stemming from Bernard L. Madoff's massive Ponzi scheme.

Schupak Group Inc. asked the high court in October to hear its appeal, claiming the case could answer important and recurring questions about the scope and coverage of compliance bonds under the Employee Retirement Income Security Act. Travelers provided the ERISA compliance bond for the...
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