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Madoff Feeder Fund’s Liquidators Drop Ernst & Young Lawsuit

The liquidators of M-Invest Ltd., a so-called feeder fund for Bernard Madoff’s bankrupt investment firm, dropped a lawsuit accusing Ernst & Young LLP of negligence, malpractice and breach of contract. The liquidators said in documents filed in New York State Supreme Court in December that they were suing the New York- based accounting firm over audits of M-Invest’s annual financial statements from 2003 to 2007 and seeking $900 million in damages. Ernst & Young said the suit was without merit. More on Bloomberg here.

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