Investors Win Class Cert. In Madoff Feeder Fund Action

Law360, Los Angeles (February 25, 2013, 5:36 PM EST) -- A New York federal judge on Monday certified a class of institutional investors who claim Fairfield Greenwich Group and others funneled investor money into Bernard Madoff's Ponzi scheme, finding the plaintiffs had adequately supported their claims.

U.S. District Judge Victor Marrero ruled the plaintiffs had sufficiently alleged violations of federal securities law, breach of contract and quasi contract claims against FGG and its administrators Citco Group, PricewaterhouseCoopers LLP and GlobeOp Financial Services LLC, but excluded class members whose investments in the funds were made in countries...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.