Fri, 17 May 2013
Exploit the power of digital with The Lawyer Acumen
The Lawyer Acumen is a comprehensive online resource giving everyone in the legal market real-time business intelligence on the sector.
9 January 2009
27 July 2009
2 May 2011
20 October 2003
18 March 2002
14 January 2008
Shearman & Sterling has landed a lead role advising one of the largest victims of US hedge fund manager Bernard Madoff's $50bn (£33bn) pyramid scheme.
New York-based partners Steven Molo and James Garrity are leading a team advising Boston-based philanthropists Carl and Ruth Shapiro, who invested in excess of $500m (£329m) in the Madoff funds.
Molo said: "The saddest thing about it is that the Shapiro family and their foundation are well known in Boston for their charitable investments and play a significant role in the community."
The move comes after details of Madoff's pyramid scheme emerged in December last year. Madoff was arrested on 11 December for securities fraud.
The Shapiro's charitable foundation has lost about half of its assets, around $145m (£95m) while the Shapiro family has lost approximately $400m (£263m) in personal funds.
Madoff is receiving legal advice from Dickstein Shapiro partner Ira Sorkin. Madoff appeared in court in Manhattan this week accused of criminal securities fraud.
Sorkin was unavailable for comment.
View All Related Briefings
Jordan Publishing Ltd
BPP Professional Education
View all CPD/Events
Subscribe to The Lawyer today and get all the latest news stories, both domestic and global, and analysis of the legal sector.
A subscription includes:
The latest legal news, opinion, analysis, jobs and events. Wherever you are, whenever you need it.
Let us help you with an integrated approach to mobile and online advertising.
Site powered by Webvision