New York Securities Lawyer Blog

Published on: December 10, 2010

CNBC Guest Blog: Madoff Two Years Later – It’ll Never Be the Same

Below is a CNBC guest blog by Ross Intelisano on the two year anniversary of Madoff’s arrest.

Madoff Two Years Later – It’ll Never Be the Same by Ross B. Intelisano – Rich & Intelisano, LLP

December 11, 2008 started like a typical year-end work day. Then the phone rang with a hysterical retired widow screaming and crying that she had just lost almost all of her money investing with Bernie Madoff. That might seem strange to many, but we receive calls like this all of the time. Our law firm represents investors who’ve been defrauded by Wall Street. But the phone kept ringing, all day, every day, from December through February. And the numbers were staggering; tens or even hundreds of millions of dollars lost. Generations of wealth were completely wiped out. We knew immediately. This was going to be the largest fraud ever, and by a long shot. And it was. $18 billion. Almost ten times larger than any other Ponzi scheme.

Published on: December 3, 2010

NY Times: Goldman’s $20 Million Consequence

By Ross B. Intelisano

Below is a New York Times piece about the Firm’s $20.6 million arbitration award against Goldman Sachs being upheld by Judge Rakoff in a sternly written opinion.

DealBook – A Financial News Service of The New York Times November 30, 2010, 6:16 pm Goldman’s $20 Million Consequence By SUSANNE CRAIG

Goldman Sachs made its bed. Now Judge Jed S. Rakoff says the Wall Street firm has got to lie in it.

Published on: November 26, 2010

AP: Probe leads investors to wonder: Is game rigged?

By Ross B. Intelisano

Below is an AP article regarding insider trading which quotes Ross Intelisano.

Probe leads investors to wonder: Is game rigged?

By RACHEL BECK, BERNARD CONDON and PALLAVI GOGOI, AP Business Writers Rachel Beck, Bernard Condon And Pallavi Gogoi, Ap Business Writers Wed Nov 24, 4:13 pm ET

Published on: November 23, 2010

Procedures for Madoff Clawback Avoidance Actions Approved

By Lax & Neville LLP

On Wednesday, November 10, 2010, Judge Lifland approved an order outlining the procedures for the soon to be filed Madoff clawback lawsuits. Lax & Neville, LLP, along with other law firms, opposed the Trustee’s motion and asked the Court to stay all proceedings until the Second Circuit ruled on the Net Equity issue. Judge Lifland denied the request. In anticipation of that result, Lax & Neville, LLP, again working with other firms, negotiated with Baker & Hostetler to modify the procedures proposed by the Trustee to better protect the rights of victims. Those procedures were approved by Judge Lifland.

Published on: November 9, 2010

The American Lawyer: Judge Rakoff Confirms $20.6 Million Arbitration Award Against Goldman Sachs

By Ross B. Intelisano

Below is a piece by the American Lawyer. Top Story of the day.

TOP STORY November 9, 2010

The Am Law Litigation Daily – Did Goldman Make Bad Gamble With Arbitration Award?

Published on: November 9, 2010

Reuters: Goldman loses bid to toss record Bayou award

By Ross B. Intelisano

Here is a piece from Reuters on the Firm’s recent win against Goldman Sachs.

Goldman loses bid to toss record Bayou award 3:46am EST

By Jonathan Stempel

Published on: November 8, 2010

NY Times: Judge Upholds Award Against Goldman

By Ross B. Intelisano

Below is a piece from the NY Times’ DealBook about Judge Rakoff confirming the $20.6 million arbitration award against Goldman Sachs, the largest arbitration award ever rendered against the firm.

DealBook – A Financial News Service of The New York Times November 8, 2010, 11:29 am Judge Upholds Award Against Goldman

A federal judge has denied a request by Goldman Sachs to throw out a record arbitration award levied against the Wall Street firm earlier this year.

Published on: October 22, 2010

NY Times: In Clearing Bayou, Quagmire for Goldman

By Ross B. Intelisano

Below is a piece from the front page of the October 23, 2010 business section of the New York Times regarding the firm’s $20.6 million arbitration award against Goldman Sachs, the largest customer arbitration ever rendered against Goldman.

DealBook – A Financial News Service of The New York Times October 21, 2010, 8:38 pm In Clearing Bayou, Quagmire for Goldman

By SUSANNE CRAIG

Published on: October 4, 2010

Ross Intelisano Named to 2010 New York Super Lawyers List

By Ross B. Intelisano

New York Super Lawyers, a publication of The New York Times Magazine, has named Ross B. Intelisano as one of New York’s top Securities Litigation attorneys in their 2010 publication. The list of Super Lawyers recognizes lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement in their respective fields. Super Lawyers’ selection process is a vigorous multi-phase rating process based on peer nominations and evaluations, combined with third-party research. Their selection process has been recognized by bar associations and courts across the country.

Ross Intelisano is the only attorney on the 2010 New York Super Lawyers top Securities Litigation list who primarily represents institutional and individual investors in securities arbitration.

Published on: July 26, 2010

Madoff Trustee To Bring Clawback Actions Against Victims

By Lax & Neville LLP

Today an article appeared in the Wall Street Journal (“WSJ”) indicating that the Trustee for the Bernard L. Madoff Investment Securities liquidation, Irving Picard, intends to sue 1,000 Madoff victims in clawback actions. The clawback actions will be brought through an adversarial proceeding in the Bankruptcy Court before the Honorable Judge Lifland. Mr. Picard stated that he will likely sue what he has incorrectly described as “net winners.” A copy of the article is available with an online subscription to the WSJ here. You can also find some commentary on the story here.