2nd Circ. Won't Revive Feeder Fund Suit Over Madoff Losses

Law360, New York (July 16, 2013, 5:38 PM EDT) -- The Second Circuit on Tuesday upheld the dismissal of a class action against an investment firm that forwarded assets to feeder funds of Bernard L. Madoff Securities LLC, finding the suit failed to identify any material misrepresentation or omission by the firm that would constitute fraud.

A three-judge panel for the appeals court held that fraud claims alleged by investor David B. Newman and affiliates against Family Management Corp., its top executives and others fall flat, as offering materials for the FM investment fund at issue...
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