On October 7, 2011, Judge Richard A. Kramer of the San Francisco Superior Court granted final approval of the $3.6 million settlement in Herron, et al. v. Lark Creek Investment Management Company, et al., Case No. CGC-10-496342. The Schubert Firm served as Co-Lead Class Counsel in the case. Plaintiffs’ investments in the feeder fund Starlight, L.P., which invested nearly all of its assets with Bernie Madoff, were destroyed when Madoff’s Ponzi scheme was revealed in December 2008. The complaint alleged that the feeder fund’s auditor was professionally negligent and breached its contract with the feeder fund in issuing “clean” audit opinions on the feeder fund’s financial statements between 2003 and 2007. Pro rata payments to the Class Members are expected to be completed in December 2011.
Please visit the settlement website for more information: