A firm run by owners of the New York Mets baseball team has agreed in principle to settle a lawsuit by employees who said they lost millions of dollars in retirement money that was invested with Bernard Madoff. The July 2010 lawsuit on behalf of hundreds of current and former Sterling Equities employees accused Sterling, Mets principal owner Fred Wilpon and two other 401(k) plan trustees of breaching their fiduciary duties by mishandling investments with Madoff and his firm Bernard L. Madoff Investment Securities LLC. Read more on Reuters here.
