People who invested with imprisoned swindler Bernard Madoff through Westport National Bank will have to work a little harder to get back lost investment money.
A federal court judge in New Haven, Conn., has ruled that the victimized investors cannot file a class action lawsuit against the bank. Judge Peter C. Dorsey also denied the bank’s motion to dismiss. The 26 plaintiffs in Backus v. Connecticut Community Bank were suing for part of $60 million lost from accounts the bank invested with Bernard L. Madoff Investment Securities.
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