High Court Declines Refco Suit Against Mayer Brown

Law360, New York (June 20, 2011, 12:51 PM EDT) -- The U.S. Supreme Court declined Monday to hear an appeal by two investment firms in a proposed class action that accused Mayer Brown LLP and a former partner of helping now-defunct Refco Inc. hide its crippling debt through fraudulent financial transactions and statements.

In declining to revive the proposed class action against Mayer Brown and former partner Joseph P. Collins, the high court followed its decision last week in a similar suit against Janus Capital Management LLC. In that case, the Supreme Court held that plaintiffs...
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