"Hundreds of people whose employers invested their retirement funds with Bernard Madoff cannot recover money from the liquidation of Mr. Madoff's firm because they weren't direct customers of the imprisoned Ponzi scheme operator, a bankruptcy judge has ruled.... Investors in the plans, however, still have a shot at recovering money, because the plans themselves have brought claims against Mr. Madoff's firm. [Irving Picard, the court-appointed trustee winding down Mr. Madoff's investment firm,] has denied the claim of at least one of the four plans, court papers show." [Securities Investor Protection Corporation v. Bernard L. Madoff Investment Securities LLC, No. 09-11 (Bankr. S.D.N.Y. Aug. 22, 2014)]  MORE >>