Madoff Direct and Feeder Fund
United States District Court for the Southern District of New York
Case No. 09-8278
Keller Rohrback and co-counsel filed an individual, direct action titled Hartman, et al., v. Ivy Asset Management L.L.C., et al. on behalf of the trustees of 17 employee benefit plans in New York State. The action alleged that Ivy Asset Management and J.P. Jeanneret Associates, as well as certain individuals at those firms, breached their fiduciary duties in violation of the Employee Retirement Income Security Act of 1974 (as amended) (“ERISA”) by causing the Plans to be invested directly and/or indirectly in Madoff.
On March 15, 2013, the Honorable Colleen McMahon of the United States District Court for the Southern District of New York entered an order approving a $219,857,694 settlement in this case and related actions. The settlement culminates several lawsuits brought by settling plaintiffs, including the United States Secretary of Labor and the New York Attorney General, against the settling defendants. Final judgment in these cases was entered on May 29, 2013.