Santander To Notify Madoff Clients Of Lawsuit

Law360, New York (February 19, 2009, 12:00 AM EST) -- Banco Santander SA has agreed to issue a corrected notice that will allow investors devastated by Bernard L. Madoff's alleged $50 billion Ponzi scheme to assess the bank's compensation offer in light of a putative class action, laying to rest an emergency motion by the plaintiffs to enjoin the bank from communicating with clients on the matter.

Santander said in a hearing Thursday that it will send a notice explaining the details of the lawsuit, which was filed in the U.S. District Court for the Southern...
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