BNY’s Ivy Settles New York’s Madoff Lawsuit for $210 Million

Bank of New York Mellon Corp. (BK)’s Ivy Asset Management agreed to a $210 million settlement with the state of New York to resolve allegations it misled clients that invested with Bernard Madoff, according to a statement from the New York Attorney General’s office.

To contact the reporter on this story: David McLaughlin in New York at dmclaughlin9@bloomberg.net

To contact the editor responsible for this story: Andrew Dunn at adunn8@bloomberg.net