Court: Fla. must weigh arbitration in Madoff case
U.S. Court News
The Supreme Court says the Florida courts should reconsider whether arbitration is required for claims against an auditing firm that worked on a fund that invested with Bernie Madoff.
The high court on Monday reversed a decision by a Florida appeals court. KPMG was sued by investors in the Rye Funds, which lost millions of dollars to Madoff's Ponzi scheme. KPMG was the auditor for the Rye Funds, and the investors said the company did not use proper auditing standards.
KPMG says its contract requires arbitration but the state courts would not allow it.
The Supreme Court ruled that the Florida courts only looked at part of the claims being brought against KPMG. The high court ordered the lower courts to investigate all of the claims before making a decision.
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New York Adoption, Foster Care Litigation and Family Law
Rosin Steinhagen Mendel is a law firm dedicated to serving our clients in New York City, the surrounding counties in southern New York State, and in New Jersey, in the areas of adoption, foster care litigation, and family law.
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Our goal for our lawyers is to provide each of our clients with the best possible representation in all aspects of their cases, and clients appreciate our careful analysis of individual cases, through our preparation and attention to detail.