Madoff Trustee Floats $29M Settlement Of Sumitomo Litigation
Published . Updated .
The trustee overseeing the liquidation of Bernie Madoff's sham investment fund has proposed a settlement worth about $29 million with Sumitomo Trust & Banking Co. Ltd. to resolve a clawback action aimed at recovering funds transferred through a feeder fund to the Japanese trust
Directly affected
- No company is named in this report.
Indirectly affected
- XLF Financial Select Sector SPDR-3.5% 30d
Financial Select Sector SPDR: it holds banks. Linked by “banking” (banks) in this story.
- KRE SPDR S&P Regional Banking ETF-4.8% 30d
SPDR S&P Regional Banking ETF: it holds banks. Linked by “banking” (banks) in this story.
- EWJ iShares MSCI Japan ETF-0.2% 30d
iShares MSCI Japan ETF holds stocks listed in Japan, which this story is about (“japanese”).
- JPM JPMorgan Chase-1.7% 30d
JPMorgan Chase (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “banking” (banks) in this story.
- SMFG Sumitomo Mitsui Financial Group
Sumitomo Mitsui Financial Group (commercial banks, with business in Japan): banks' earnings move with lending, deposits and rates. Linked by “banking” (banks) in this story.
- BAC Bank of America-11.4% 30d
Bank of America (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “banking” (banks) in this story.
- WFC Wells Fargo-1.5% 30d
Wells Fargo (national commercial banks): banks' earnings move with lending, deposits and rates. Linked by “banking” (banks) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLFNo price data for this ticker | — | — | — | — | — | — | — |
| KRENo price data for this ticker | — | — | — | — | — | — | — |
| EWJNo price data for this ticker | — | — | — | — | — | — | — |
| JPMNo price data for this ticker | — | — | — | — | — | — | — |
| SMFGNo price data for this ticker | — | — | — | — | — | — | — |
| BACNo price data for this ticker | — | — | — | — | — | — | — |
| WFCNo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Market Call
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Madoff Trustee Floats $29M Settlement Of Sumitomo Litigation Law360
Source: Law360
Congressional trades in the stocks in this story
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM), worth $15,001 - $50,000 on 4 Sep 2026. That is 56 days before publication. Filed 1 Oct 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 56 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 27 Aug 2026. That is 64 days before publication. Filed 4 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 51 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Laurel Lee sold Bank Of America (BAC) (held by a spouse), worth $50,001 - $100,000 on 24 Aug 2026. That is 67 days before publication. Filed 16 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 35 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $15,001 - $50,000 on 17 Sep 2026. That is 43 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Wells Fargo (WFC) (held by a dependent child), worth $1,001 - $15,000 on 15 Sep 2026. That is 45 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
How solid “Madoff Trustee Floats $29M Settlement Of Sumitomo Litigation” looks
12 out of 100
“Madoff Trustee Floats $29M Settlement Of Sumitomo Litigation” scores 12 out of 100. The score uses 1 sources.