UniCredit Secures Affirmance of Dismissal of Madoff-Related Claims

Skadden secured the affirmance of a dismissal of multibillion-dollar lawsuits brought against UniCredit S.p.A. by foreign investors in three "feeder" funds, claiming that UniCredit and other defendants aided in Madoff's Ponzi scheme by failing to conduct due diligence and other allegedly wrongful conduct. On September 16, the U.S. Court of Appeals for the Second Circuit affirmed the lower court's decision (also handled by Skadden) and dismissed the claims on the basis of forum non conveniens.