Bulk Of MetLife, Other Insurers' Suit Over Madoff Feeder Nixed

Law360, Wilmington (December 20, 2012, 6:31 PM EST) -- A Delaware judge on Thursday threw out the better part of a lawsuit filed by Metropolitan Life Insurance Co. and two more insurers against feeder fund manager Tremont Partners Inc. over life insurance investment losses incurred in Bernard Madoff’s Ponzi scheme.

In a 54-page opinion, Vice Chancellor Donald F. Parsons dismissed all of the insurers’ claims against Tremont officers and directors, along with a host of derivative claims that he said were snuffed out in a settlement Tremont reached with other insurance companies.

MetLife, General American...
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