Mets owners want $1B Madoff suit dismissed

Owners of the New York Mets baseball team asked a federal judge to dismiss a $1 billion suit by the trustee liquidating Bernard Madoff’s firm.

Karen Wagner, a lawyer for the Mets owners, Fred Wilpon and Saul Katz, argued to U.S. District Judge Jed Rakoff that the trustee, New York lawyer Irving Picard, has failed to show evidence they ignored red flags that should have alerted them to Madoff’s fraud.

Picard’s case “doesn’t plead anything amounting to willful blindness,” Wagner said in a hearing in Manhattan today.

Full story: Mets Owners Want $1B Madoff Suit Dismissed – Bloomberg.