|Bernard Vaughan; Reuters|
The 2009 lawsuit accused Tremont of investing
The lawsuit was brought by
Madoff is serving a 150-year prison term for running the massive Ponzi scheme, estimated to have cost investors more than
Wexler's lawsuit included fraud claims on behalf of Rye Select.
"Wexler's derivative claims were represented in the federal action by other limited partners of the Rye Select fund," Lowe wrote in the
Lowe also dismissed Wexler's direct claims against Tremont for fraud and negligent misrepresentation.
Wexler's lawsuit, Lowe wrote, "fails to explain how one or more alleged red flags made it so obvious that Madoff was running a Ponzi Scheme that defendants must have known about the scheme and wanted to further it."
Lowe also dismissed the lawsuit against Tremont's parent,
Lowe said he would issue a separate opinion on motions to dismiss the lawsuit against other named defendants, including
Lawyers for Wexler, Manzke and Oppenheimer did not respond to requests for comment on Wednesday [April 2].
A spokesman for Massachusetts Mutual did not immediately return a request for comment.
The case is
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