This is a securities class action lawsuit against MF Global and certain officers and directors and certain underwriters on behalf of purchasers of the common stock of MF Global, Ltd. in its Initial Public Offering on July 19, 2007 and on the open market through February, 28, 2008 (the "Class Period").
The securities class action lawsuit alleges that MF Global misrepresented the nature of its internal risk controls to manage among other risks, the risks that traders could trade in their own accounts or trade without proper margin requirements. These representations proved to be false when one MF Global trader, working from his home on a lap top computer, lost over $140,000,000 in a wheat futures trade on his own account.
Name (Stock Symbol)
MF Global, Ltd. (MF)
MF Global Ltd. is a broker of exchange-listed futures and options.
The information provided on ClassAdvocate.com is general in nature,
does not apply to any particular factual situation, and is not and
should not be taken as legal or other professional advice. We make no
commitment or warranty that the factual, legal or any other information
on ClassAdvocate.com, or on any linked website, is accurate, complete,
error-free, or current. As such, you should not rely on such information,
and should seek professional advice if and as you determine appropriate.
ClassAdvocate.com is not a lawyer referral service, and no attorney-client
or confidential relationship is or should be formed by use of the site.
The investigations listed on ClassAdvocate.com are attorney advertisements
and do not in any way constitute a referral or endorsement by ClassAdvocate.com
or any approved or authorized lawyer referral service.