Court Bars Madoff Investor Lawsuits Against SEC
FINAlternatives reported on the Second U.S. Circuit Court of Appeals decision to uphold a lower court's rejection of claims by a number of defrauded Madoff investors against the SEC. Herrick, Feinstein Partner Howard Elisofon, who represented a group of investors in the suit, said, "We believed that our clients were wronged (both by Madoff and the SEC), and their rights needed to be vindicated. We recognized that challenging the SEC would be difficult, but this was a case that needed to be fought."