The appeals court said the Securities and Exchange Commission’s actions and “regrettable inaction” are shielded by rules protecting government employees from lawsuits when they carry out a discretionary function or duty.
A Long Island Power Authority trustee has called the suggestion to privatize the agency a “terrible idea.”
Victims of a Long Island ponzi-schemer said that they have already paid enough, some of them were bilked out of hundreds of thousands of dollars by Nick Cosmo. Now Cosmo’s victims could be on the hook for even more money.
A lawyer for the investors filed papers in federal bankruptcy court in Manhattan objecting to a settlement that will provide $7.2 billion to Madoff investors who lost their original investment.
Dozens who recouped more than their investments in Bernard Madoff’s business have asked a federal court to force a trustee to include fictitious profits when considering how victims get paid back.