Unions sue hedge funds over money lost by Madoff
Friday, April 17, 2009 : PermalinkLas Vegas Sun – Two Las Vegas unions claim to have lost almost $2 million in retirement funds to the Bernard Madoff Ponzi scheme, and have sued the hedge fund in which they had invested that money.
The unions — Laborers Union Local 872 and Plumbers and Pipefitters Local 525 — sued Austin Management Capital and sister companies Victory Capital Management and KeyCorp. The litigation, filed in U.S. District Court in the Southern District of New York on April 8, seeks class action status.
Tags: bernard madoff, keycorp, laborers union, las vegas, litigation, mdash, money, plumbers, ponzi scheme, retirement funds, sister companies, southern district of new york, unions, vegas sun, victory capital management
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