Judge Revives Some Fraud Claims In Refco MDL

Law360, New York (May 5, 2011, 6:30 PM EDT) -- A New York federal judge revived some fraud claims Wednesday in the Refco Inc. multidistrict securities litigation after rejecting a special master's recommendation that he dismiss the allegations with prejudice.

U.S. District Judge Jed S. Rakoff disagreed with the special master's finding that fraud claims brought on behalf of a group of hedge funds were barred because the plaintiffs were partially to blame for some of the alleged wrongdoing at issue. Judge Rakoff said only a few lines out of the 300-page amended complaint support such...
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