August 02, 2010
A federal judge has dismissed a class action alleging Spanish banking giant Banco Santander SA was negligent in investing more than $3 billion in Bernard L. Madoff’s $65 billion Ponzi scheme, saying the case should be heard in Ireland.
November 20, 2009
Spanish banking giant Banco Santander SA has asked a federal judge in Florida to toss a class action alleging that it was negligent in investing over $3 billion in Bernard L. Madoff’s $65 billion Ponzi scheme, saying that the bank monitored the fraudster as closely as anyone.
June 17, 2009
Two foreign fund directors who are included as defendants in a suit against Spain's Banco Santander SA brought by clients claiming the defendants carelessly invested $3 billion in Bernard L. Madoff's $65 billion Ponzi scheme have asked a federal court to dismiss them from the case, arguing that the U.S. courts have no jurisdiction over them.
February 19, 2009
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.
February 02, 2009
A putative class has asked a federal judge to block Spain's Banco Santander SA from offering a compensation plan to investors who lost more than $3 billion in disgraced financier Bernard L. Madoff's alleged $50 billion Ponzi scheme.
January 28, 2009
Spain's Banco Santander SA has been hit with a class action from investors alleging the bank failed to scrutinize disgraced fund manager Bernard L. Madoff's dealings before investing $3 billion of its clients' money in the alleged $50 billion Ponzi scheme.