Hogan Lovells Secures Victory for PwC Bermuda in Madoff Case
30 November 2011
NEW YORK, 30 November 2011 – Hogan Lovells announced today that on 29 November 2011 Judge Richard M. Berman of the U.S. District Court for the Southern District of New York dismissed claims brought against firm client PricewaterhouseCoopers Bermuda (“PwC Bermuda”) and others by foreign investors who had invested in funds that in turn had invested with Bernard L. Madoff.
Plaintiffs had sued PwC Bermuda and more than 60 other defendants in connection with losses they suffered as the result of Madoff’s infamous Ponzi scheme. Concluding that the case did not belong in a U.S. court, Judge Berman dismissed the claims against most of the defendants on the basis of the doctrine of forum non conveniens.
New York partners Dennis H. Tracey, III and Sandy Litvack and New York Associate Lisa Fried handled the case.
In September 2011, Hogan Lovells secured a separate victory for PwC Bermuda in a case before the Eleventh Circuit Court of Appeals, which affirmed a lower court’s 2010 decision dismissing a feeder fund action brought against PwC Bermuda and other defendants. The district court in that case had found that it lacked jurisdiction over PwC Bermuda and certain other defendants and dismissed the action on the basis of the doctrine of forum non conveniens.