A federal judge has dismissed a suit against a “sub-feeder” fund investors alleged was responsible for losses they ultimately suffered from Bernard L. Madoff’s multi-billion dollar Ponzi scheme.

Southern District Judge Leonard B. Sand ruled that the investors could not hold the Family Management Corp. responsible for the loss of some $8 million of the $13 million it placed for them in its FM Low Volatility Fund that ended up with Mr. Madoff.

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