Southern District Judge Jed Rakoff yesterday denied a motion by Irving Picard, the trustee overseeing the liquidation of Bernard L. Madoff Investment Securities, to block a $410 million settlement between Attorney General Eric Schneiderman and hedge fund manager Ezra Merkin, who was accused of steering clients’ money to Madoff’s Ponzi scheme. Rakoff not only denied Picard’s motion to enjoin the settlement, but dismissed his entire adversary proceeding against the A.G. sua sponte.
‘Enforcement 40’ for 2020
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