Fiserv Knew Madoff Was Shady: Class Action

Law360, New York (April 23, 2009, 12:00 AM EDT) -- A proposed class action against financial services technology firm Fiserv Inc. claiming that $1 billion of client money was secretly invested and lost in Bernard L. Madoff’s Ponzi scheme has been amended to include allegations that Fiserv was warned that Madoff was running a scam as early as 2002.

In an amended complaint filed Wednesday in the U.S. District Court for the District of Colorado, the plaintiffs allege that investment consultant Rogerscasey LLC, a subadviser to Fiserv's Investment Support Services division, issued several warnings about Madoff...
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