Sep 24, 2011, 11:12 AM EDT
According to Adam Rubin of ESPN New York, U.S. District Court Judge Jed S. Rakoff is expected to issue a ruling as soon as Monday on whether to toss all or part of a $1 billion lawsuit against the owners of the Mets.
Trustee Irving Picard is suing the Wilpons and Saul Katz in an attempt to capture funds for victims of Bernie Madoff’s Ponzi scheme. He seeks $300 million in “fictitious profits” and an additional $700 million in principal from the Wilpon family, alleging that they turned a blind eye to the fraudulent activity.
While Rakoff’s ruling is important, it won’t be the final word on the situation. One potential scenario is that he could throw out the $700 million lawsuit, leaving the rest to be decided at a trial set to begin on March 5, 2012. Rakoff’s ruling could ultimately lead the two sides to have more serious talks about a settlement.
- Hank Aaron is getting vile racist hate mail in retaliation for pointing out that racism still exists (244)
- “They Don’t Know Henry” (167)
- The Red Sox are still steamed that a PED guy played against them in the playoffs last year (133)
- Doug Glanville’s story about being racially profiled at his own home (125)
- There is still a racial divide in baseball (112)