Two former investors with Bernard Madoff cannot pursue claims against the estate of a Florida businessman who was one of the convicted swindler’s biggest clients, a federal appeals court ruled on Monday. The decision by a three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan is a victory for Irving Picard, the trustee liquidating Madoff’s firm, in a battle over his authority to reach settlements on behalf of victims of Madoff’s Ponzi scheme. More on Reuters here.
