U.S. Judge to review madoff trustee's anti-class action lawsuit

U.S. District Judge Jed Rakoff said he will decide if the liquidator of Bernard Madoff's firm may stop a class-action suit against directors and advisers of so- called feeder fund Thema International Fund Plc, according to a court filing yesterday in Manhattan.

Trustee Irving Picard sued the class-action plaintiffs in April, claiming they were undermining the U.S. bankruptcy court's jurisdiction over Madoff's estate. They said Picard was trying to “commandeer” their claims by suing some of the same defendants and wouldn't share any recoveries with them.