Sandler O'Neill To Pay $3.5M In Refco Settlement

Law360, New York (November 7, 2008, 12:00 AM EST) -- Sandler O'Neill & Partners LP will pay $3.5 million to settle alleged securities law violations arising from its role as an underwriter in the initial public offering for failed commodities broker Refco Inc.

The New York-based investment banker agreed to the payment as part of a settlement with lead plaintiffs Pacific Investment Management Co. LLC and R.H. Capital Associates LLC. Judge Gerard E. Lynch of the U.S. District Court for the Southern District of New York preliminarily approved the deal Wednesday.

Sandler O'Neill was one of...
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