Ivy Asset Management agreed to pay $210 million to settle lawsuits over advising clients to invest with Ponzi schemer Bernard Madoff, the New York State Attorney General said on Tuesday.
The New York-based investment adviser, a subsidiary of Bank of New York Mellon Corp, withheld damaging information about Madoff to make millions of dollars in fees, N.Y. Attorney General Eric Schneiderman said in a statement.
via Ivy Asset Mgmt settles with NY for $210 mln over Madoff — Reuters
