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Wolf Popper LLP, plaintiffs’ co-lead counsel, is pleased to report that on February 25, 2013, the U.S. District Court for the Southern District of New York, Hon. Victor Marrero, rendered a Decision and Opinion granting plaintiffs’ motion for class certification on the pending claims against the PricewaterhouseCoopers, GlobeOp Financial Services LLC, and Citco Group defendants arising out of Madoff-related feeder fund investments marketed by the Fairfield Greenwich Group (“Funds”). The case is Pasha S. Anwar et al. v. Fairfield Greenwich Ltd. et al, case number 1:09-cv-00118.
 
Judge Marrero ruled the plaintiffs had satisfied the requirements for a class action in their claims for violations of the federal securities law, breach of fiduciary duty, common law fraud or negligent misrepresentation, aiding and abetting common law fraud and the breach of fiduciary duty, breach of contract and quasi contract against the Citco Group defendants (the Funds’ administrators and custodians), PricewaterhouseCoopers defendants (the Funds’ audit firms) and GlobeOp Financial Services LLC (the administrator for certain of the Funds), but excluded class members whose investments in the Funds were made in countries not likely to recognize the court’s judgment due to public policy concerns.
 
The plaintiffs in the action have previously entered into a Stipulation of Settlement with the FGG-related defendants for $50 million in immediate cash payments as well as other consideration. On March 25, 2013, Judge Marrero entered a Final Judgment and Order approving plaintiffs' partial settlement with the FGG-related defendants for $50 million in immediate cash payments as well as other consideration. Settlement Class Members are required to submit a Proof of Claim and Release by April 17, 2013 to participate in the settlement.
 

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