Judge Tosses Suit Against Refco Execs

Law360, New York (June 15, 2007, 12:00 AM EDT) -- A judge has shut the door on one of several cases against Refco executives filed in the wake of the commodities broker's collapse, but has left open a window for plaintiffs to amend their complaint and salvage their case.

The suit was a putative class action brought by customers of Refco subsidiary RefcoFX—a currency trading firm—for the recovery of account funds lost when the parent company restated its finances after corporate officers allegedly engaged in a six-year scheme to hide bad debts.

In his order issued...
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