Boies, Schiller & Flexner, working as co- lead counsel, has reached a proposed settlement for $50 to $80 million for a class of investors in Fairfield Greenwich Group, the largest Madoff “feeder fund.” The settlement, filed November 6, 2012 in New York federal court, follows four years of litigation on behalf of a class of over 1,000 investors. The settlement is subject to court approval. Litigation will continue against fund administrators and custodians Citco Group and GlobeOp, and fund auditors PricewaterhouseCoopers Netherlands and Canada.
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