Tremont Investor’s $195 Million Madoff Suit Revived by Court (1)

Tremont Group Holdings Inc. must face an investor lawsuit over losses tied to Bernard Madoff’s fraud, a state appeals court ruled. The Washington state appeals court revived a lawsuit brought by a group of investors, including FutureSelect Portfolio Management Inc., that lost $195 million in Tremont’s feeder fund when Madoff’s Ponzi scheme collapsed. The ruling reverses a lower court’s dismissal of claims against Tremont, its parent Oppenheimer Acquisition Corp., Oppenheimer’s parent Massachusetts Mutual Life Insurance Co. and auditor Ernst & Young LLP.
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