Mealey's Banking & Finance - District Court Improperly Applied Inquiry Notice Standard, 11th Circuit Rules

Mealey's Banking & Finance - District Court Improperly Applied Inquiry Notice Standard, 11th Circuit Rules

ATLANTA - A federal district court erred in dismissing an investor lawsuit against their investment advisers for negligently investing in a feeder fund for Bernard L. Madoff's massive Ponzi scheme because the district court erred in applying the inquiry notice standard in its dismissal, an 11th Circuit U.S. Court of Appeals panel ruled April 28 (Quentin Walter, et al. v. Frank J. Avellino, et al., No. 13-13081, 11th Cir.; 2014 U.S. App. LEXIS 7901).

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