The New York law firm Abbey Spanier Rodd & Abrams filed a class-action suit against Ascot Partners on behalf of New York Law School, which lost $3 million in the Madoff fallout, and other forthcoming investors. Tufts lost $20 million from the same company.
In the suit, which was submitted on Dec. 16, lawyers repeatedly argue that Ascot Partners deceived investors by not telling them the extent to which the fund was entrusted to Madoff.
