On Dec. 7, 2010, Picard filed suit against Sterling Equities because the company was deemed a "net winner" in Madoff's multi-billion-dollar investment scam. According to the initial filing, the Wilpons, who own a controlling stake in the team, withdrew $48 million more from their Madoff accounts than they invested.
Last week, the Wilpons announced economic "uncertainty" was forcing the team to consider selling a 25 percent interest National League Franchise, which value was estimated in 2010 at $858 million.
Bernie Madoff was arrested Dec. 11, 2008 at his Manhattan home by federal agents, charged with running the largest fraud in Wall Street history. He is now serving a 150-year sentence for his $65 billion Ponzi scheme he ran for 20 years.
The request for the unsealing of the Mets suit came the same day a suit against JP Morgan Chase was also made public, revealing emails in which JP Morgan employees said there was a "well-known cloud over the head of Madoff" more than a year before Madoff was arrested.
"For whatever its worth, I am sitting with [JP Morgan employee name redacted] who just told me that there is a well-known cloud over the head of Madoff and that his returns are speculated to be part of a [P]onzi scheme," a JP Morgan employee wrote in June 2007.
The documents allege JP Morgan Chase briefly looked into Madoff after the email, but found nothing to prevent their investment with Madoff from going forward.
In December, Picard filed a suit against JP Morgan Chase for $6.4 billion.
Documents obtained by ABC News in December showed that later, two months before Madoff's arrest, the company suspected that his investment returns were probably "too good to be true." The bank, however, was still doing business with Madoff when federal authorities discovered his Ponzi scheme.
JP Morgan said the allegations in the complaint made public Thursday were "meritless and based on distortions of both the relevant facts and the governing law."
"Contrary to the trustee's allegations, JP Morgan did not know about or in any way become a party to the fraud orchestrated by Bernard Madoff," the company said in a statement to ABC News. "JP Morgan intends to defend itself vigorously against the unfounded claims brought by the trustee."