Madoff Client Immune To Securities Class Action, Judge Says

Law360, New York (June 20, 2012, 4:47 PM EDT) -- A New York bankruptcy judge ruled Wednesday that plaintiffs are barred from filing a securities class action against a former Bernard L. Madoff Investment Securities LLC client's estate and others who'd already reached a $7.2 billion settlement with a trustee.

U.S. Bankruptcy Judge Burton R. Lifland denied a motion by A&G Goldman Partnership and Pamela Goldman, the purported class action plaintiffs, seeking a ruling that neither an injunction the court entered as part of the 2011 settlement nor the automatic stay provision of the Bankruptcy Code...
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