Baker Hostetler serves as court-appointed counsel to Irving H. Picard, SIPA Trustee for the liquidation of Bernard L. Madoff Securities LLC (“BLMIS”). In January of 2011, the SIPA Trustee obtained approval from the United States Bankruptcy Court for a $5 billion settlement for BLMIS customers with allowed claims. At the same time, the Bankruptcy Court … Continue Reading
In Thorogood v. Sears, Roebuck & Co., 2012 WL 1508226 (7th Cir. May 1, 2012), the Seventh Circuit considered the propriety of an All Writs Act injunction in the face of a copy-cat class action for a “near-frivolous” claim. After detailing the abuse of the class action device by the plaintiffs’ lawyers, the Court nevertheless … Continue Reading
