Comcast Ruling Doesn't Doom $80M Madoff Fund Deal

Law360, Los Angeles (April 4, 2013, 10:44 PM EDT) -- A New York federal judge ruled Thursday that the U.S. Supreme Court’s ruling in Comcast v. Behrend doesn’t invalidate an $80 million settlement between Bernard Madoff feeder fund Fairfield Greenwich Group and its investors, saying the recent ruling doesn’t address class action settlements.

The order comes less than two weeks after U.S. District Judge Victor Marrero approved the settlement, which resolved the investors' claims that Fairfield's management and founders misrepresented the extent of its holdings in Bernard L. Madoff Investment Securities LLC, leading to investors' massive...
To view the full article, register now.