Daily Archives: December 23, 2008, 11:59 pm

Securities Docket News Wire for Dec. 23, 2008

Reserve Management Co. says SEC’s Enf. Division has recommended enforcement action against co. and senior executives. http://is.gd/ddsJ # Video: Fox Business Network Tracks Down Madoff Auditor. http://is.gd/dcWg # Madoff-related class action filed in SDNY against Tremont Group, KPMG, others. http://is.gd/dbfZ # Former stockbroker arrested, charged with conspiring with Marc Dreier to commit fraud by selling fake promissory notes. http://is.gd/d9wH #…

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Madoff-related class action filed in SDNY against Tremont Group, KPMG, others

A class action lawsuit has been filed in the SDNY against against Madoff feeder-fund Tremont Group Holdings, several affiliated entities (including OppenheimerFunds and Massachusetts Mutual Life Insurance Co.), and KPMG, Tremont’s auditor.  The lawsuit, filed by law firm Hagens Berman Sobol Shapiro on behalf of individuals and groups that invested with Tremont, alleges that the defendants grossly neglected their fiduciary duties…

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NY investor files $1.7 million claim against SEC for negligence in Madoff probe

Phyllis Molchatsky, a 61-year-old retiree from Valley Cottage, NY, who lost nearly $2 million investing with Bernard Madoff, filed a claim against the SEC on Monday.  The administrative claim alleges that the SEC was negligent in failing to detect alleged Madoff’s alleged fraud, the WSJ reports, and seeks $1.7 million in damages. Howard Elisofon, the lawyer who filed the case,…

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