<p>December 25, 2008 -- New York University slapped tarnished financier J. Ezra Merkin with a lawsuit yesterday stemming from his ties with alleged con artist Bernard Madoff.</p>
<p>NYU, one of the largest private universities in the US, says it may have lost more than $24 million due to Merkin's investments with Madoff "in the face of an extraordinary number of 'red flags.' "</p>