Judge Hinting at Trial in Case of Mets OwnersAugust 19, 2011 – In The News
Judge Rakoff implied that the $1 billion claim brought against Mets owners by the trustee on behalf of victims of Bernie Madoff's fraud could be decided in a public trial.
Judge Rakoff promised to rule on a possible case dismissal by the end of September, but he also set the stage for a formal trial by ordering that both sides begin to provide each other with additional material concerning the team owners' investments with Madoff. But presenting the possibility of a trial could also be a way of encouraging both parties to reach a settlement.
"The judge is saying, 'I'm not letting you know how I'm going to rule, so you guys better settle,' and then who knows how long the trial will last," said Michael J. Kline. "He's adopting the course of 'a plague on both your houses, that you're going to have a lot of preparation that will cost you millions of dollars.'"