LAWSUITS NEWS & LEGAL INFORMATION
MF Global Reaches Preliminary Agreement on Shareholder Lawsuit
This is a settlement for the Securities/Stock Fraud lawsuit.
New York, NY: MF Global Holdings Ltd, a broker-dealer providing trading and hedging solutions, announced it has reached a preliminary agreement among principals to settle class action litigation brought on behalf of purchasers of MF Global stock between July 2007 and February 2008.
MF Global will contribute $2.5 million to the overall settlement of $90 million. MF Global joins this settlement without admitting liability and in the interest of avoiding unnecessary litigation expense. The preliminary settlement and complete documentation will be subject to Court review and final approval.
As a result of this settlement, the only remaining financial issue involving the unauthorized trading incident in February 2008 will be the resolution of MF Global's claim for insurance coverage.
Published on Jan-20-11
MF Global will contribute $2.5 million to the overall settlement of $90 million. MF Global joins this settlement without admitting liability and in the interest of avoiding unnecessary litigation expense. The preliminary settlement and complete documentation will be subject to Court review and final approval.
As a result of this settlement, the only remaining financial issue involving the unauthorized trading incident in February 2008 will be the resolution of MF Global's claim for insurance coverage.
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