Investor Smacked With Refco Derivative Lawsuit

Law360, New York (April 7, 2006, 12:00 AM EDT) -- Two fund members have slapped well-known investor and fund owner Jim Rogers with a fresh lawsuit, accusing the Beeland Management Co. owner of improperly transferring assets to unregulated futures broker Refco Inc. before it went bankrupt.

In court papers filed this week in Manhattan, Dynasty Invest Ltd. and the Sulam Trust alleged that Rogers, Beeland and others have breached their fiduciary duties to the Rogers Raw Materials Fund LP.

“The defendants violated their fiduciary duties by causing or allowing the asset transfer to Refco CM despite,...
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