{"id":1272,"date":"2013-06-21T13:36:49","date_gmt":"2013-06-21T13:36:49","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/06\/courts_nationwide_dismiss_more"},"modified":"2022-03-10T16:37:06","modified_gmt":"2022-03-10T22:37:06","slug":"courts-nationwide-dismiss-more","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/","title":{"rendered":"Courts Nationwide Dismiss More Securities Actions: Madoff Trustee\u2019s Case, Equinox Investor\u2019s Class Lawsuit, K-Sea Transportation Litigation, & Shareholder Derivative Complaint is Thrown Out"},"content":{"rendered":"

\t\t\t\tTrustee Can’t Sue Investment Banks for Aiding Madoff Ponzi Scam<\/strong><\/p>\n

The U.S. Court of Appeals for the Second Circuit affirmed a lower court ruling that trustee Irving Picard cannot sue the investment banks accused of allegedly aiding and abetting the Madoff Ponzi scam for billions of dollars because the doctrine in pari delicto <\/em>bars him. Per the doctrine, one wrongdoer can’t recover from another wrongdoer.<\/p>\n

Picard sued UBS AG (UBS)<\/a>, JPMorgan Chase & Co. (JPM)<\/a>, HSBC Bank plc, and UniCredit Bank Austria AG, claiming they disregarded warning signs of Madoff’s fraud as they received significant fees. Because Picard is now in “Madoff’s shoes” as the debtor’s representative of Bernard L. Madoff Investment Securities, the court said that he cannot proceed with lawsuits against the parties that took part in the fraud. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Trustee Can’t Sue Investment Banks for Aiding Madoff Ponzi Scam The U.S. Court of Appeals for the Second Circuit affirmed a lower court ruling that trustee Irving Picard cannot sue the investment banks accused of allegedly aiding and abetting the Madoff Ponzi scam for billions of dollars because the doctrine in pari delicto bars him. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3792],"tags":[],"class_list":["post-1272","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams"],"yoast_head":"\nCourts Nationwide Dismiss More Securities Actions: Madoff Trustee\u2019s Case, Equinox Investor\u2019s Class Lawsuit, K-Sea Transportation Litigation, & Shareholder Derivative Complaint is Thrown Out — Investor Lawyers Blog — June 21, 2013<\/title>\n<meta name=\"description\" content=\"Trustee Can't Sue Investment Banks for Aiding Madoff Ponzi Scam The U.S. Court of Appeals for the Second Circuit affirmed a lower court ruling that — June 21, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Courts Nationwide Dismiss More Securities Actions: Madoff Trustee\u2019s Case, Equinox Investor\u2019s Class Lawsuit, K-Sea Transportation Litigation, & Shareholder Derivative Complaint is Thrown Out — Investor Lawyers Blog — June 21, 2013\" \/>\n<meta name=\"twitter:description\" content=\"Trustee Can't Sue Investment Banks for Aiding Madoff Ponzi Scam The U.S. Court of Appeals for the Second Circuit affirmed a lower court ruling that — June 21, 2013\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Courts Nationwide Dismiss More Securities Actions: Madoff Trustee\u2019s Case, Equinox Investor\u2019s Class Lawsuit, K-Sea Transportation Litigation, & Shareholder Derivative Complaint is Thrown Out — Investor Lawyers Blog — June 21, 2013","description":"Trustee Can't Sue Investment Banks for Aiding Madoff Ponzi Scam The U.S. Court of Appeals for the Second Circuit affirmed a lower court ruling that — June 21, 2013","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/","twitter_card":"summary_large_image","twitter_title":"Courts Nationwide Dismiss More Securities Actions: Madoff Trustee\u2019s Case, Equinox Investor\u2019s Class Lawsuit, K-Sea Transportation Litigation, & Shareholder Derivative Complaint is Thrown Out — Investor Lawyers Blog — June 21, 2013","twitter_description":"Trustee Can't Sue Investment Banks for Aiding Madoff Ponzi Scam The U.S. Court of Appeals for the Second Circuit affirmed a lower court ruling that — June 21, 2013","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Courts Nationwide Dismiss More Securities Actions: Madoff Trustee\u2019s Case, Equinox Investor\u2019s Class Lawsuit, K-Sea Transportation Litigation, & Shareholder Derivative Complaint is Thrown Out","datePublished":"2013-06-21T13:36:49+00:00","dateModified":"2022-03-10T22:37:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/"},"wordCount":759,"articleSection":["Ponzi Scams"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/","url":"https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/","name":"Courts Nationwide Dismiss More Securities Actions: Madoff Trustee\u2019s Case, Equinox Investor\u2019s Class Lawsuit, K-Sea Transportation Litigation, & Shareholder Derivative Complaint is Thrown Out — Investor Lawyers Blog — June 21, 2013","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2013-06-21T13:36:49+00:00","dateModified":"2022-03-10T22:37:06+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Trustee Can't Sue Investment Banks for Aiding Madoff Ponzi Scam The U.S. Court of Appeals for the Second Circuit affirmed a lower court ruling that — June 21, 2013","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/courts-nationwide-dismiss-more\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Courts Nationwide Dismiss More Securities Actions: Madoff Trustee\u2019s Case, Equinox Investor\u2019s Class Lawsuit, K-Sea Transportation Litigation, & Shareholder Derivative Complaint is Thrown Out"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-kw","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/1272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=1272"}],"version-history":[{"count":6,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/1272\/revisions"}],"predecessor-version":[{"id":23609,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/1272\/revisions\/23609"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=1272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=1272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=1272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}