Row Over Merkin's Madoff Feeder Funds Partly Revived

Law360, New York (September 12, 2012, 8:15 PM EDT) -- A New York federal judge on Monday altered part of a decision that vindicated three J. Ezra Merkin-owned hedge funds from allegations they had negligently funneled billions of investor dollars to perpetuate Bernard L. Madoff's Ponzi scheme, finding certain claims aren't preempted by the state's Martin Act.

U.S. District Judge Deborah A. Batts ruled that since her September 2011 order, New York's highest court held in Assured Guaranty (U.K.) Ltd. v. J.P. Morgan Investment Management Inc. that the Martin Act does not preempt a common law...
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