The owners of the New York Mets have settled their dispute with trustee Irving Picard over his attempt to claw back some $300 million in profits from Bernard L. Madoff’s Ponzi scheme.
The settlement, reached by the parties on March 16, was announced Monday morning on the brink of jury selection by U.S. District Court Judge Jed S. Rakoff of the Southern District of New York. That averted a trial in which lawyers for Picard would have attempted to persuade a nine-person jury that Mets principal owners Fred Wilpon and Saul Katz were willfully blind to warning signs that the now-imprisoned Madoff was running a multibillion-dollar scam out of Bernard L. Madoff Investment Securities.
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