The victims’ trustee sought $1 billion in damages, alleging that the team’s owners were “willfully blind” to the Madoff scheme and failed to sound the alarm. The judge allowed the suit to go forward, but has capped the amount of damages that can be paid out at $300-400 million. The reduced sum means that the owners, Fred Wilpon and Saul Katz, might be able to hold onto the franchise, theoretically. [NYT]
