NEW YORK, Jan. 10, 2012 (GLOBE NEWSWIRE) -- The Securities Law Firm of Shepherd Smith Edwards & Kantas LTD, LLP, www.sseklaw.com, is investigating claims of thousands of investors who were invested in feeder funds that invested with Bernard Madoff, in light of a recent decision by Judge Denise Cote, Senior United States District Court Judge for the Southern District of New York, affirming a prior bankruptcy court ruling that said clients of feeder funds that invested with Bernard L. Madoff Investment Securities (BLMIS) do not qualify for payouts to reimburse Madoff customers. The ruling means that nearly 11,000 third party investors who invested in feeder funds that took their money and invested it with Madoff are out of luck, since they did not have accounts with BLMIS; only the feeder funds had accounts with BLMIS.
If you were invested in a feeder fund or hedge fund that invested with Bernard Madoff and lost money, the only option available for you, based upon this ruling, is to file your claim for damages against the fund itself. Please contact our securities law firm for a confidential, no obligation consultation regarding your losses and potential options for recovery.
Shepherd Smith Edwards & Kantas LTD, LLP has a team of attorneys, consultants and staff with more than 100 years of combined experience in the securities industry and in securities law. Since 1990, we have represented thousands of investors nationwide to recover losses. We have represented clients in Federal and State courts and in arbitration through the Financial Industry Regulatory Authority (FINRA), the New York Stock Exchange Inc. (NYSE), the American Arbitration Association (AAA) and in private arbitration actions. Collectively, we have represented over 1,000 investors in the last 20 years in negotiation, mediation, arbitration and litigation.