MF Global Strikes $90M Deal In IPO Action

Law360, New York (January 20, 2011, 3:24 PM EST) -- Investment firm MF Global Holdings Ltd. announced Thursday that it had reached a preliminary $90 million settlement of a class action stemming from the company's 2007 initial public offering.

According to a statement from the broker-dealer, MF Global will pay $2.5 million into the settlement fund. The company added that it entered into the settlement “without admitting liability and in the interest of avoiding unnecessary litigation expense.”

British hedge fund giant The Man Group, which spun off MF Global in 2007, agreed to contribute $32.5 million...
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