>MF Global
Lead Plaintiff Deadline: January 2, 2012
Hagens Berman is investigating brokerage firm MF Global Holdings (NYSE: MF) following reports that the company admitted to regulators that it diverted customers’ funds.
A class-action lawsuit has been filed on behalf of investors, and the deadline to apply for lead plaintiff status is Jan. 2, 2012. Hagens Berman encourages investors who purchased MF Common stock between Nov. 5, 2009, and Oct. 31, 2011 (the "class period"), or who purchased 6.25 percent bonds as part of an Aug. 2011 $325 million offering to contact the firm.
Partner Reed R. Kathrein is leading the firm’s investigation and can be reached at (510) 725-3000 or via email at MFGlobal@hbsslaw.com. Investors can also learn more about this investigation at www.hbsslaw.com/MFGlobal.
MF Global filed for bankruptcy on Oct. 31, 2011. On the same day, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a joint statement, noting that a deal to sell off part of the company to another firm had not been agreed to. The statement also noted that MF Global had reported “possible deficiencies” in customer accounts.
On Nov. 1, 2011, The Wall Street Journal reported that, according to a federal official, MF Global told regulators that money was missing from customers’ accounts.
The same day, the company was suspended from trading on the London Metal Exchange. It has also been suspended as a clearing member of CME Group, Inc., one of the largest futures markets.
Hagens Berman is investigating whether the company misappropriated customers’ funds, using their money to offset losses the company incurred in failed investments.
“A central tenet of Wall Street regulation is that company money and customers’ money must be kept separate,” said Mr. Kathrein. “If MF Global allowed customer money to be used to prop up the company, the company should be held accountable.”
Persons with knowledge that may help the investigation are encouraged to contact the firm. The SEC recently finalized new rules as part of its implementation of the whistleblower provisions in the Dodd-Frank Wall Street Reform Bill. The new rules protect whistleblowers from employer retaliation and allow the SEC to reward those who provide information leading to a successful enforcement with up to 30 percent of the recovery.
Hagens Berman is investigating brokerage firm MF Global Holdings (NYSE: MF) following reports that the company admitted to regulators that it diverted customers’ funds.
A class-action lawsuit has been filed on behalf of investors, and the deadline to apply for lead plaintiff status is Jan. 2, 2012. Hagens Berman encourages investors who purchased MF Common stock between Nov. 5, 2009, and Oct. 31, 2011 (the "class period"), or who purchased 6.25 percent bonds as part of an Aug. 2011 $325 million offering to contact the firm.
Partner Reed R. Kathrein is leading the firm’s investigation and can be reached at (510) 725-3000 or via email at MFGlobal@hbsslaw.com. Investors can also learn more about this investigation at www.hbsslaw.com/MFGlobal.
MF Global filed for bankruptcy on Oct. 31, 2011. On the same day, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a joint statement, noting that a deal to sell off part of the company to another firm had not been agreed to. The statement also noted that MF Global had reported “possible deficiencies” in customer accounts.
On Nov. 1, 2011, The Wall Street Journal reported that, according to a federal official, MF Global told regulators that money was missing from customers’ accounts.
The same day, the company was suspended from trading on the London Metal Exchange. It has also been suspended as a clearing member of CME Group, Inc., one of the largest futures markets.
Hagens Berman is investigating whether the company misappropriated customers’ funds, using their money to offset losses the company incurred in failed investments.
“A central tenet of Wall Street regulation is that company money and customers’ money must be kept separate,” said Mr. Kathrein. “If MF Global allowed customer money to be used to prop up the company, the company should be held accountable.”
Persons with knowledge that may help the investigation are encouraged to contact the firm. The SEC recently finalized new rules as part of its implementation of the whistleblower provisions in the Dodd-Frank Wall Street Reform Bill. The new rules protect whistleblowers from employer retaliation and allow the SEC to reward those who provide information leading to a successful enforcement with up to 30 percent of the recovery.
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