Second Circuit Grants 23(f) Petition on Judge Marerro's Madoff Feeder Class Certification Decision

In an order today, the Second Circuit granted the defendants' Rule 23(f) motion for leave to file an interlocutory appeal of Judge Marerrro's decision to certify a class of investors in a Madoff feeder fund.  As we reported in February, Judge Marerro had certified the class over the defendants' arguments that individualized issues of reliance and the question of whether foreign jurisdictions would accept the binding effect of a U.S. opt-out class action precluded class treatment.