Refco Underwriters Settle Securities Suit For $53M

Law360, New York (April 21, 2010, 1:56 PM EDT) -- Credit Suisse Securities USA LLC, Banc of America Securities LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. and others have agreed to pay $53 million to settle allegations that they aided Refco Inc. in artificially inflating its stock via false statements, nondisclosures and fraudulent conduct.

Lead plaintiffs Pacific Investment Management Co. LLC and RH Capital Associates LLC asked a judge to sign off on the deal and certify a settlement class in the U.S. District Court for the Southern District of New York on Tuesday....
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