United States Third Circuit
Baer v. US, 12-1319
Dismissal of suit brought under the Federal Tort Claims Act (FTCA), to recover damages for injuries resulting from the failure of the Securities and Exchange Commission (SEC) to uncover and terminate Bernard Madoff's Ponzi scheme in a timely manner, is affirmed, where: 1) the district court correctly concluded that it lacked subject matter jurisdiction because plaintiffs' claims were barred by the discretionary function exception to the FTCA; and 2) the district court did not abuse its discretion in denying plaintiffs' requests for jurisdictional discovery and to amend the complaint.
Appellate Information
- Decided 07/01/2013
- Published 07/01/2013
Judges
- STARK
Court
- United States Third Circuit