Labaton Sucharow LLP Responds To Inquiries Regarding In re Banco Santander Securities-Optimal Litigation

NEW YORK--(BUSINESS WIRE)-- In response to news inquiries about an announced $15.5 billion settlement of claims concerning 720,000 investors outside the U.S. who lost money in Bernard Madoff’s fraud, Labaton Sucharow LLP (“Labaton Sucharow”) announces that it did not participate in, nor does it have any knowledge concerning, this announcement and the underlying facts. Labaton Sucharow, nor any of the legal actions which it is prosecuting, form any part of the announced settlement.

Labaton Sucharow Partner Javier Bleichmar stated, “We are not aware of settlements in the amount of $15.5 billion for 720,000 investors, but encourage the release of specific information so that investors can ensure that they are participating if they are covered by the alleged settlements. We will continue to prosecute our cases for our clients vigorously.”

Labaton Sucharow is currently Lead or Co-Lead Counsel in three Madoff related class actions: (1) In Re Banco Santander Securities-Optimal Litigation, Case No. 09-2073-MDL-Huck/O’Sullivan (S.D. Fla.); (2) In Re Kingate Management Limited Litigation, Case No. 09-cv-5386 (DAB) (S.D.N.Y.); and (3) Erausquin et al. v. Notz Stucki & Cie., S.A. et al., Case No. 09-cv-07846 (WHP) (S.D.N.Y.).

For more information, please refer to http://www.labaton.com/madoff/index.cfm, or contact Stacey Szluka, Senior Marketing Communications Specialist, at 212-907-0664.

Labaton Sucharow LLP, with offices in New York, New York and Wilmington, Delaware, is one of the country’s premier law firms representing institutional investors in class action and complex securities litigation, as well as consumers and businesses in class actions seeking to recover damages for anticompetitive practices. The Firm has been a champion of investor and consumer rights for over 45 years, seeking recovery of current losses and necessary governance reforms to protect investors and consumers. Labaton Sucharow has been recognized for its excellence by the courts and its peers. More information about Labaton Sucharow is available at www.labaton.com

CONTACT:

Labaton Sucharow LLP
Stacey Szluka, 212-907-0664

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