Law Firms, Banks Nervously Eye Refco Fall-Out

Law360, New York (November 15, 2005, 12:00 AM EST) -- Yesterday's lawsuit against Refco's former excecutives by the commodities and foreign exchange broker's largest shareholder has law firms, banks, underwriters and accountants nervously wondering who's next.

Although the accounting scandal bankrupted the company and led to its eventual sale, the futures broker is not the only company named as a defendant in the avalanche of lawsuits filed in the wake of its collapse.

Third parties, including investment banks, accountants, and law firms, could all be implicated, as the ripple effect of litigation continues.

According to Dale...
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