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2 More Suits Over Madoff Losses Hit Funds

Law360 (April 21, 2009, 12:00 AM EDT) -- Two new lawsuits have been filed on behalf of investors claiming funds and their managers carelessly invested customer money in Bernard L. Madoff's massive Ponzi scheme.

A class action filed Monday in the U.S. District Court for the Southern District of New York targeted Meridian Capital Partners Inc. funds of hedge funds, managed by Meridian Diversified Fund Management LLC. A separate suit was filed late last week against J.P. Jeanneret Associates Inc., Bank of New York Mellon Corp., the bank's hedge fund unit Ivy Asset Management...
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