New York Attorney General Andrew M. Cuomo filed a lawsuit Tuesday against the hedge fund division of Ivy Asset Management, a unit of Bank of New York Mellon Corp., and two of its executives alleging they “deliberately” mislead clients about investments tied to Bernard L. Madoff.

The suit alleges that Ivy, its former Chief Executive Officer Lawrence Simon, and its former Chief Investment Officer Howard Wohl, deliberately “kept clients in the dark about damaging financial information about Madoff so Ivy could bring in millions in advisory fees.”

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