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From Kirsten Bischoff, Opalesque New York : For Fairfield Greenwich Group, which has been listed as the largest investor in Bernard L. Madoff Investment Securities (estimated investment loss of $7.5 bln) (Source), media coverage indicates that the public relations war seems to be long lost.

However, a source close to the firm indicated to Opalesque that in the still to be determined legal battles, as investors regroup to decide the most prudent strategies, there is a scenario emerging which may spare Fairfield and the firm’s partners the brunt of investor lawsuits.

Fairfield has been reportedly considering its legal actions against the main auditor of its Sentry Fund, Pricewaterhouse Coopers (PwC). This is unfolding as Fairfield faces at least one large class action lawsuit from its own investors (FT).

However, if Fairfield does indeed proceed with a lawsuit against PwC, its own investors may be inclined to instead proceed by joining Fairfield in a class action against the auditor because such a step may hold more strategic benefits and a clearer path to recouping losses.

The case for letting a lead plaintiff (Fairfield) face deposition The source also indicated that Fairfield’s investor base is comprised of ap......................

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