Lowey Dannenberg Appointed Lead Counsel in Beacon Associates Madoff Litigation

The complaints allege that more than seventy percent of the Fund's investments were concentrated in entities managed by Madoff or Madoff-related entities, and that Defendants failed to perform necessary due diligence in placing and monitoring those investments. The Fund had a Net Asset Value of approximately $560 million prior to the revelation of the fraud.

 

Plumbers & Steamfitters Local 267 Pension Fund, Plumbers & Steamfitters Local 267 Insurance Fund, Plumbers Local 112 Health Fund, Local 73 Retirement Fund, and U.A. of Journeymen & Apprentices Local 73 Fund on behalf of investors in Beacon Associates LLC I & II (the "Fund").

 

In re: Beacon Associates Litigation, Civ. Act. No. 09-CV 0777 (S.D.N.Y.)