High Court Won't Hear ERISA Suit Over Bernie Madoff Profits

Law360, New York (June 19, 2017, 12:34 PM EDT) -- The U.S. Supreme Court refused Monday to review a pension fund’s Employee Retirement Income Security Act suit against the Bank of New York Mellon and Ivy Investment Management over decades-old Bernie Madoff investment advice.

The high court’s certiorari denial marks the end of the road for an appeal brought by the Upstate New York Engineers Pension Fund, which fought in mid-May to restore allegations that its asset manager’s failure to recommend a full withdrawal from Madoff's now-infamous investments cost it potential profits.

The fund alleged in...
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