Wolf Haldenstein Adler Freeman & Herz LLP announces that it has formed a
Madoff Related Fraud Task Force, specifically designed to advise clients
with inquiries regarding financial losses incurred in relation to
involvement with Bernard L. Madoff's (“Madoff”) investments.
The Madoff Task Force is co-chaired by Gregory Mark Nespole and Demet
Basar. Mr. Nespole is responsible for the investigation and initiation
of securities class actions and derivative litigations for the firm and
has been appointed lead or co-lead counsel on behalf of stockholders in
many actions pending across the United States. Ms. Basar’s practice is
in complex commercial litigation, including securities litigation. The
Task Force team also includes lawyers and professionals from New York
City, Chicago, and San Diego with extensive experience in finance,
securities investigations and regulation, and civil litigation.
Among the affected parties in Madoff’s controlled entities is Banco
Bilbao Vizcaya Argentaria, S.A. [NYSE: BBV]. Wolf Haldenstein’s Madoff
Task force is examining how its involvement has affected investors, as
well as the involvement of other publicly traded companies.
Wolf Haldenstein has been retained by individuals and institutions that
have lost hundreds of millions of dollars due to investments made by
Funds of Funds (“FOFs”), Hedge Funds, Investment Advisory Firms,
International Banking Concerns, and Brokerage Houses through Madoff
Investment Securities LLC and Madoff. It is now apparent that FOFs,
Hedge Funds, Investment Advisory Firms, and Brokerage Houses invested
billions of dollars with Madoff and these investments are now worthless.
FOFs market themselves to institutional and retail investors based on
their purported expertise in picking qualified managers and the due
diligence they purportedly perform on the managers to whom they
ultimately commit capital. It is becoming increasingly apparent that the
FOFs that entrusted their clients’ money with Madoff should have been
aware of the numerous “red flags” that were raised by Madoff’s
activities. It is also now apparent that these FOFs failed to perform
the necessary due diligence that they were being compensated to perform
as investment managers and fiduciaries.
Some of the FOFs that invested with Madoff include Tremont Capital,
Farfield Greenwich Advisors, Fairfield Sentry, RMF Investment
Management, Bramdean Alternatives, Union Bancaire Privee, Maxam Capital
Management, EIM Group, and Rye Select Broad Market Fund.
Wolf Haldenstein has extensive experience in the prosecution of
securities class actions and derivative litigation in state and federal
trial and appellate courts across the country. The firm has
approximately 70 attorneys in various practice areas; and offices in
Chicago, New York City, San Diego, and West Palm Beach. The reputation
and expertise of this firm in shareholder and other class litigation has
been repeatedly recognized by the courts, which have appointed it to
major positions in complex securities multi-district and consolidated
litigation. Please visit the Wolf Haldenstein website
(http://www/whafh.com) for more information about the firm.
If you wish to discuss this matter with us, or have any questions
concerning your rights and interests with regard to this matter, please
contact:
Gregory Mark Nespole
Demet Basar
Wolf Haldenstein Adler Freeman & Herz LLP
270 Madison Avenue
New York, New York 10016
Phone Number:
(800) 575-0735
(212) 545-4600
Email:
Nespole@whafh.com
Basar@whafh.com
Classmember@whafh.com
Website: http://www.whafh.com
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