KPMG Can't Force Tremont Investors To Arbitrate Madoff Row

Law360, New York (May 24, 2013, 1:49 PM EDT) -- A group of Tremont Partners Inc. hedge fund investors who lost $20 million in Bernard Madoff’s Ponzi scheme can continue their suit accusing the funds’ auditor KPMG LLP of failing to catch the fraud, a Massachusetts appeals court ruled Thursday, saying the claims were not subject to arbitration.

A three-judge panel of the Massachusetts Appeals Court affirmed a 2012 lower court ruling that the 27 investors in the feeder funds — Rye Select Broad Market Prime Fund and Rye Select Broad Market XL Fund — were...
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