Former Refco General Counsel Settles For $7.6M

Law360, New York (December 10, 2007, 12:00 AM EST) -- The latest casualty of the $430 million fraud scandal at bankrupt Refco Inc. is the company's general counsel, Dennis Klejna, who has reached a $7.6 million settlement with shareholders that accused him of complicity in the scheme that felled the futures broker.

On Friday, lead plaintiffs in the massive putative shareholder class action against Refco and several top executives filed a motion for preliminary approval in the U.S. District Court for the Southern District of New York, outlining the terms of a settlement to which they...
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