Judge: Madoff Feeder Fund Policyholder Claims Preempted By SLUSA

Judge: Madoff Feeder Fund Policyholder Claims Preempted By SLUSA

NEW YORK - Dismissal of a securities class action lawsuit stemming from Bernard L. Madoff's massive Ponzi scheme is proper, a federal judge in New York ruled Sept. 3, because policyholders' claims are preempted by the Securities Litigation Uniform Standards Act (SLUSA) (In re Tremont Securities Law, State Law and Insurance Litigation, No. 08-11117, S.D. N.Y.).

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