2nd Circ. Upholds $80M Fairfield Sentry Settlement

Law360, New York (November 27, 2013, 2:03 PM EST) -- The Second Circuit refused Tuesday to undo a settlement tied to feeder funds of Bernard Madoff's Ponzi scheme even though some investors said it would extinguish their derivative claims on behalf of one of those funds, finding that investors could still opt out of the deal.

The up to $80 million settlement between the investors and Fairfield Greenwich's management and founders over allegations that they misrepresented the extend of the funds' holdings with Madoff didn't include one of Fairfield Greenwich's funds, known as Fairfield Sentry, as...
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