J. Ezra Merkin settles Madoff-related lawsuit with New York | Reuters

Reuters, the Times and other sources report that J. Ezra Merkin settled his Madoff-related lawsuit with New York Attorney General. Merkin will make restitution. The Times reports, "Hedge Fund Manager to Pay $405 Million in Madoff Settlement," By DIANA B. HENRIQUES:

Clients of J. Ezra Merkin, a prominent Wall Street hedge fund manager who invested his clients’ money in Bernard L. Madoff’s epic Ponzi scheme, will recover more than $400 million under a civil settlement negotiated by the New York State attorney general’s office.

After shaking hands with him on Shabbat at the Jewish Center of Atlantic Beach, we had a distinct sense that after 3.5 years of litigation, Merkin was relieved.