Banco Santander SA (SAN.MC) on Monday won the dismissal of U.S. federal securities law claims in a lawsuit by investors in a $3.1 billion hedge fund arm that funneled money to the now-imprisoned swindler Bernard Madoff. U.S. District Judge Shira Scheindlin said investors in a feeder fund advised by the Spanish bank’s Optimal Investment Management Services SA unit could not rely on U.S. securities laws to recover losses on investments made outside the United States. Read Reuters report here.
