Mayer Brown Must Face Claim It Aided Refco Scam

Law360, New York (March 27, 2012, 1:09 PM EDT) -- A New York federal judge ruled Saturday that Mayer Brown LLP, primary counsel for Refco Inc. until its October 2005 collapse, must face part of a claim that it helped the defunct brokerage in defrauding a family of hedge funds.

U.S. District Judge Jed S. Rakoff adopted a special master’s Jan. 17 report keeping intact portions of a $263 million suit by the liquidators for Sphinx Ltd. funds, which were overseen by investment manager PlusFunds Group Inc. The funds claimed in a 2008 suit that Mayer...
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