WSJ’s Dan Strumpf writes that a Bank of New York Mellon
Corp. unit will pay $210 million to resolve a series of lawsuits claiming that
it concealed doubts about the business operated by convicted Ponzi schemer
Bernard L. Madoff.
The settlement by Ivy Asset Management LLC, which comes less
than a month before the fourth anniversary of Mr. Madoff's fraud coming to
light, resolves litigation by the New York attorney general's office, the U.S.
Department of Labor and investors. An additional $9 million will be contributed
by other individual defendants in the cases…..
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