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The Mets are going to settle one of their many lawsuits

Nov 4, 2011, 2:29 PM EDT

File image of New York Mets chairman and CEO Fred Wilpon talking to reporters at a news conference in New York Reuters

The big one — the case brought by the bankruptcy trustee for the Bernie Madoff debacle — is still going on, but the Mets are now poised to settle a bit of business.

It’s a lawsuit brought by employees of Sterling Equities — the company run by Fred Wilpon and Saul Katz — accusing the Mets owners of breaching the fiduciary duties by mishandling investments with Madoff, putting employee 401K money with him and that sort of thing.

Terms of the settlement weren’t disclosed, but it’s not like you or I care about that so much. The key here is that, one-by-one, Wilpon and Katz are getting this stuff put to bed. I would guess that they’ll get the big case brought by Irving Picard put to bed soon too.  And they’ll have some minority investors in place, at least if you believe them when they say how much interest there is in all of that.

After that, baseball will be the primary order of the day in Queens.

(thanks to Martin S. for the heads up)

  1. halladaysbiceps - Nov 4, 2011 at 2:32 PM

    Settlement details: Wilpons give the 401K holders Jose Reyes.

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