Panel Affirms Dismissal Of Investor Claims Against Madoff Feeder Funds, Others

Mealey's (August 20, 2018, 1:39 PM EDT) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on Aug. 17 ruled that a federal district court did not err in dismissing class action claims brought by investors in two feeder funds for Bernard L. Madoff’s massive Ponzi scheme because investors waived their argument on appeal that the Securities Litigation Uniform Standards Act of 1998 (SLUSA) does not apply to their claims, which are based on foreign law (In re Kingate Management Litigation, No. 16-3450, 2nd Cir., 2018 U.S. App. LEXIS 22895)....