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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.