Former Refco General Counsel Settles For $7.6M

Law360, New York (December 10, 2007, 12:00 AM EST) -- The latest casualty of the $430 million fraud scandal at bankrupt Refco Inc. is the company's general counsel, Dennis Klejna, who has reached a $7.6 million settlement with shareholders that accused him of complicity in the scheme that felled the futures broker.

On Friday, lead plaintiffs in the massive putative shareholder class action against Refco and several top executives filed a motion for preliminary approval in the U.S. District Court for the Southern District of New York, outlining the terms of a settlement to which they...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Mazur et al v. Refco, Inc. et al


Case Number

1:05-cv-08626

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Jed S. Rakoff

Date Filed

October 11, 2005

Law Firms

Government Agencies

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.