Labor Department settles with Ivy, 3 other firms over Madoff losses
November 13, 2012 – Media Mention
Pensions & Investments
Arthur Jakoby is quoted in a report about the settlement with Ivy Asset Management which resolves litigation filed by both the Department of Labor and the New York Attorney General's office as well as private and class-action lawsuits brought by individuals and pension plans. On behalf of Beacon Associates and Andover Associates, Arthur states, "This settlement probably is the most favorable outcome for any investor who invested with Madoff through an investment feeder fund … this settlement provides our investors with justice and will restore … their hard-earned monies."