U.S. Court of Appeals for the 9th Circuit
Jan. 30, 2013
9th Circuit rejects effort to hold SEC liable for failing to uncover Madoff scam
An effort by victims to hold the U.S. Securities and Exchange Commission liable for failing to detect and halt Bernard L. Madoff's Ponzi scheme got nowhere Monday at the 9th U.S. Circuit Court of Appeals.
Daily Journal Staff Writer
An effort by victims to hold the Securities and Exchange Commission liable for failing to detect and halt Bernard L. Madoff's Ponzi scheme got nowhere Monday at the 9th U.S. Circuit Court of Appeals.
Despite the SEC's own 477-page report on how it missed numerous red flags, released in 2009 and included with the complaint, individual investors cheated by Madoff cannot hold the government respon...
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