Merkin funds win dismissal of Madoff lawsuits

Three hedge funds run by New York financier and philanthropist Ezra Merkin won dismissal of civil lawsuits accusing them of being part of swindler Bernard Madoff’s massive fraud…. “No misrepresentation was made when defendants relied on Madoff, as a third-party manager, to follow the investment strategies that aligned with the stated investment strategies of the funds,” the judge’s order said.

Read more: Merkin funds win dismissal of Madoff lawsuits — Reuters