Refco Wins Dismissal, But Not Safe Yet

Law360, New York (September 14, 2007, 12:00 AM EDT) -- Defunct brokerage Refco Capital Markets Ltd.'s woes were lessened Thursday when a federal judge dismissed a putative class action brought by customers accusing it, auditor Grant Thornton LLP, and several individual defendants associated with Thomas H. Lee Partners LP of securities fraud.

Gerard E. Lynch of the U.S. District Court for the Southern District of New York granted the defendants' motion to dismiss, though he also granted the plaintiffs leave to replead against most defendants, including Refco.

Lynch found that the complaint did not sufficiently point...
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