It turns out that NYU was among those invested with Madoff. Not such a surprise there. But not ones to take things lying down for long, NYU is getting in early on the lawsuit train. Its target: Ezra Merkin, GMAC chair, Fifth Avenue Synagogue president, and manager of Madoff feeder fund Ascot which is out $1.8 billion. Merkin, his Gabriel Capital LP fund and Ariel Fund Ltd., were named. This is the second lawsuit (so far) against Merkin.
Madoff-related lawsuits are all the rage (literally) these days. We already told you about Pasha S. Anwar and Julia S. Anwar (class action) who sued Fairfield Greenwich last week, naming the firm’s three co-founders Walter M. Noel Jr., Jeffrey Tucker and Andres Piedrahita and executives Brian Fancouer and Amit Vijayvergiya as defendants.
Reuters: The complaint was filed on Tuesday in New York State Supreme Court by NYU, which describes itself as the largest private university in the United States. The lawsuit is the latest in a series against Merkin and other funds during the past week as investors seek to recover losses.
Merkin’s attorney Andrew Levander was not available for comment on the lawsuit, his office said. In a statement responding to a lawsuit in federal court on December 16, Levander said Merkin and his family were among Madoff’s biggest victims.
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See Also: Full Madoff Coverage