Refco MDL Stays Alive Despite Master's Call To Dismiss

Law360, New York (April 25, 2011, 5:28 PM EDT) -- A New York federal judge on Monday rejected a special master’s recommendation that he toss the Refco Inc. multidistrict securities litigation, saying the special master failed to read the complaint in a light most favorable to the plaintiffs.

In December, Special Master Daniel J. Capra said the claims should be dismissed because the plaintiffs were partially to blame for some of the wrongdoing at issue. But Judge Jed S. Rakoff disagreed, saying only a few lines out of the 300-page amended complaint support such a reading....
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