Madoff Investors Can’t Sue SEC, U.S. Appeals Court Rules
April 10, 2013 – Media Mention
Bloomberg reported on the decision by the U.S. Court of Appeals for the Second Circuit to uphold a lower-court decision to dismiss suits brought by Bernard Madoff's investors against the SEC for failing to uncover his massive Ponzi scheme. Herrick, Feinstein Partner Howard Elisofon, who represented several of the investors, said, "We believe 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."