New York Attorney General Andrew M. Cuomo filed a lawsuit Tuesday against a Bank of New York Mellon Corp. unit and two of its executives alleging they “deliberately” mislead clients about investments tied to Bernard L. Madoff.
The suit alleges that Ivy Asset Management LLC, its former Chief Executive Officer Lawrence Simon, and its former Chief Investment Officer Howard Wohl, deliberately “kept clients in the dark about damaging financial information about Madoff so Ivy could bring in millions in advisory fees.”
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