Murray, Frank & Sailer LLP is investigating securities fraud claims on behalf of all persons or entities who invested in the Income-Plus Investment Fund ("Income-Plus"), from January 1, 1999 to the present (the "Class Period").
During the Class Period, unbeknownst to Income-Plus investors, Defendants failed to perform the necessary due diligence that they were being compensated to perform as investment advisors, managers and fiduciaries, and proximately caused millions of dollars in losses by placing the plaintiffs' investment assets of Income-Plus in entities managed by Bernard Madoff ("Madoff"). Defendants either knew or were reckless in not realizing that the Income-Plus Investment Fund's assets that were placed with Madoff were at risk because his enterprise was a massive Ponzi scheme. Defendants ignored numerous red flags, including the abnormally high and stable positive investment results reportedly achieved by Madoff regardless of market conditions; inconsistencies between Bernard L. Madoff Investment Securities, LLC's ("BMIS") publicly available financial information concerning its assets and the purported amounts that Madoff managed for clients; and the fact that BMIS was audited by a small, obscure accounting firm.
J.P. Jeanneret Associates, Inc., John P. Jeanneret, Paul L. Perry (collectively, "Jeanneret") issued an Offering Memorandum for Income-Plus Investment Fund that was false and misleading because it falsely stated that Jeanneret would conduct thorough due diligence with respect to Income-Plus' investments. Plaintiffs allege that Defendants Jeanneret, Ivy Asset Management Corporation ("Ivy"), and Ivy's parent company, Bank of New York Mellon Corporation, failed to perform the represented due diligence and oversight, and abdicated their fiduciary duties to the investors by entrusting the plaintiffs' assets with Madoff. It is further alleged that defendant Margolin, Winer & Evens LLP negligently failed to conduct a proper audit of Income-Plus' financial statements.
If you invested in the Income-Plus Investment Fund during the Class Period and wish to represent a class of investors in this action or have questions concerning this notice or your rights, please contact us.
