Picard Loses Intervention Bid In Fairfield Investor Row

Law360, New York (March 8, 2013, 9:47 PM EST) -- Madoff trustee Irving Picard on Friday lost his bid to intervene in a class action by institutional investors accusing Fairfield Greenwich Group and others of funneling investor funds into Bernard Madoff's Ponzi scheme when a New York federal judge ruled he is already opposing their $80 million settlement in a separate motion.

U.S. District Judge Victor Marrero denied Picard’s bid to intervene in the current action to participate in an upcoming hearing to argued against the settlement proposed in November, ruling that Picard has already filed...
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