Master Wants Sphinx Investors' Refco Suit Tossed

Law360, New York (February 5, 2010, 6:02 PM EST) -- A special master has recommended that a federal court dismiss claims brought by investors in the defunct Sphinx family of hedge funds against over 50 defendants allegedly involved in transferring their money to Refco Inc., where it was used to fund Refco's $430 million securities fraud.

However, the special master, Daniel J. Capra, recommended Wednesday that the U.S. District Court for the Southern District of New York allow claims by one of the Cayman Islands-based Sphinx funds and their American parent, now-insolvent PlusFunds, to go forward....
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