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: Bodily Injury Blog

Attorneys file ERISA-related lawsuit in the Madoff scandal

By Edward Bills

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A Pennsylvania law firm has filed what is thought to be the first ERISA-related class-action lawsuit stemming from the Bernard Madoff scandal. According to the lawsuit, filed on behalf of the Pension Fund for Hospital and Health Care Employees ? Philadelphia and Vicinity and a class of similar funds, Austin Capital Management Ltd. violated ERISA rules by imprudently investing in funds controlled by Madoff. Austin Capital is estimated to have lost about $184 million from exposure to Madoff-run securities.

Full post as published by Bodily Injury Blog on February 17, 2009 (boomark / email).

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