Investor Who Lost In Madoff Fund Deal Can't Sue, Judge Says

Law360, New York (January 23, 2014, 8:13 PM EST) -- A New York judge on Thursday refused to allow an investor in a Bernard Madoff feeder fund run by hedge fund manager J. Ezra Merkin to sue the fund’s receiver for not telling him what he would’ve reaped from a $410 million settlement of litigation against Merkin, finding no basis for any gross negligence by the receiver.

New York Supreme Court Judge Richard B. Lowe III ruled that the receiver for Ascot Partners LP was under no obligation to advise investor Joshua M. Berman, who opted...
To view the full article, register now.