Important Update in Goldweber v. Sterling Equities Assocs., et al., Case No. 10-cv-5786 (PAC)
On February 27, 2012, Abbey Spanier as counsel for Plaintiff Elyse Goldweber, entered into a settlement agreement with Defendants Sterling Equities Associates, Fred Wilpon, Arthur Friedman and Michael Katz (owners of the New York Mets) to resolve a class action lawsuit brought on behalf of a class consisting of all persons, and their successors in interest, who were participants or beneficiaries of the Sterling Equities Associates Employees Retirement Plan at any time between May 1, 1997 and December 12, 2008, and whose Plan account included investments with Bernard L. Madoff Investment Securities, LLC (the "Settlement Class"). The Proposed Settlement provides for a distribution of $6.5 million, less certain fees and expenses, to members of the Settlement Class who are eligible to receive such distribution and who shall release their claims as provided by the Proposed Settlement.
Click here to read Stipulation of Settlement.
Click here to read Motion for Preliminary Approval of Class Action Settlement.