Grant Thornton Settles Refco Trustee's Fraud Claims

Law360, New York (September 5, 2012, 3:35 PM EDT) -- Grant Thornton LLP has settled allegations in multidistrict litigation that it helped Refco Inc. defraud investors by encouraging them to deposit money with the brokerage after it became insolvent following a $1.9 million leveraged buyout, according to a Tuesday order in New York federal court.

Refco trustee Mark Kirschner agreed to dismiss his claims that Grant Thornton's audit opinions induced foreign exchange customers to continue to make deposits with Refco after the company's ill-fated buyout by Thomas H. Lee Partners LP in 2004. Details on the...
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Case Information

Case Title

In Re: Refco Securities Litigation

Case Number



New York Southern

Nature of Suit



Jed S. Rakoff

Date Filed

December 28, 2007

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