We write today about an action filed by John DeLollis, Tom Holsman, Douglas McCarron and Frank Spencer in their capacity as trustees of the Empire State Carpenters Annuity Fund (“Empire Annuity Fund”) and the Empire State Carpenters Pension Fund (“Empire Pension Fund”) (collectively, the “Empire Funds”) “to recover losses suffered by the . . . [Empire Funds] as the result of Defendant’s negligent performance of its professional obligations as the accounting firm that audited the financial statements of the Income- Plus Investment Fund (‘Income-Plus’), which had substantial assets invested with and managed by Bernard Madoff and/or Bernard L. Madoff Investment Securities LLC (collectively, ‘Madoff’).”

Source: Client Alert
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