Fairfield Greenwich Group investors who saw their money funneled to now imprisoned Ponzi schemer Bernard Madoff can proceed as a class, assuming they’re not in 25 countries.
U.S. District Judge Victor Marrero in Manhattan on Monday certified the class action by investors in four funds run by Fairfield. But the judge excluded investors in 25 countries over questions of whether those jurisdictions would recognize a U.S. class action judgment. The decision has the effect of excluding investors with nearly 27 percent of the alleged losses, according to a document the plaintiffs filed last year.
via Judge certifies Madoff feed fund class action — Reuters