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ARTICLE · 13 FEBRUARY 2009

Litigation And Securities Advisory: Litigation Triggered By Madoff Collapse

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

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This is our second update regarding the collapse of securities firm Bernard L. Madoff Investment Securities LLC (BMIS) and the associated fraud scheme to which its founder, Bernard Madoff, admitted in December.

United StatesFinance and Banking
Mintz Levin Litigation Group
Mintz Levin Litigation Group
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This is our second update regarding the collapse of securities firm Bernard L. Madoff Investment Securities LLC ("BMIS") and the associated fraud scheme to which its founder, Bernard Madoff, admitted in December.

The alleged "Ponzi" scheme has affected countless investors. The many news items and the numerous court cases that have been filed to date (summarized below) suggest that investors are hoping against the odds to find assets and to reduce their losses.

As we previously reported, the Securities Investor Protection Corporation ("SIPC") provides limited coverage—up to a maximum of $500,000, inclusive of $100,000 for cash. SIPC coverage information is available here.

On January 2, 2009, the trustee charged with liquidating BMIS issued a notice outlining the requirements for filing SIPC claims. Anyone having a claim or potential claim against BMIS should read that notice. It provides that customers of BMIS must file their claims with the trustee on or

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