Refco Investors Request Approval of $108M Settlement

Law360, New York (September 12, 2006, 12:00 AM EDT) -- Two investment firms that filed a class action lawsuit against Austrian lender Bawag PSK Group for its role in Refco Inc.’s collapse have asked a judge to approve a $108 million settlement before the bank’s finances further deteriorate.

The firms, Pacific Investment Management Co., or Pimpco, and RH Capital Associates, added that the settlement was a good deal for Refco’s shareholders and bondholders.

“Time is not on the side of the settlement class when it comes to claims against Bawag,” the firms said in court documents...
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