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By Securities Docket on June 21, 2013, 11:01 am
The trustee overseeing recovery efforts on behalf of victims in the Bernard Madoff multi-billion dollar Ponzi scheme does not have standing to sue financial institutions for aiding and abetting the fraud, the U.S. Court of Appeals for the Second Circuit ruled. The circuit rejected the appeal of Securities Investor Protection Act (SIPA) trustee Irving Picard […]
By Securities Docket on November 2, 2011, 11:11 am
Court rules trustee lacks standing to bring common-law claims against J.P. Morgan and UBS.