Tuesday, 16 September 2014
Last updated 9 hours ago
Aug 19 2013 | 9:28am ET
A court has resurrected an investor lawsuit against one of the largest Bernard Madoff feeder fund managers.
A Washington State appeals court revived the suit against Tremont Group Holdings and its parent companies, overturning a lower-court dismissal of the claim. The lead plaintiff, FutureSelect Portfolio Management, says it lost $195 million when Madoff's Ponzi scheme collapsed in 2007. Tremont clients lost some $3 billion in the $65 billion fraud.
"The complaint adequately alleges negligent misrepresentation claims against Tremont, Ernst & Young, agency claims against Mass Mutual and Oppenheimer, and an apparent agency claim against Mass Mutual," the court ruled.
Two years ago, Tremont settled a lawsuit filed by Madoff receiver Irving Picard for $1 billion. FutureSelect has opted out of that deal.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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