The trustee overseeing recovery efforts on behalf of victims in the Bernard Madoff multibillion-dollar Ponzi scheme lacks standing to sue financial institutions for aiding and abetting the fraud, the U.S. Court of Appeals for the Second Circuit has ruled. Plus more in our weekly roundup of Web-only stories from NLJ.com and other ALM publications.
IN BRIEF: Madoff Trustee Can't Sue
The National Law Journal
June 24, 2013