Ex-Refco Brokers Settle Suit Over Customer Poaching

Law360, New York (March 23, 2006, 12:00 AM EST) -- Eight former Refco brokers have reached a settlement over allegations that they left Refco for a rival firm just days after the company became plagued by an accounting scandal and that they lured clients away from Refco as it was slipping into bankruptcy in October.

The group of brokers, located in Chicago, agreed to return documents that were allegedly confiscated from Refco LLC and to limit the solicitation of former Refco customers, according to a proposed settlement filed with the U.S. Bankruptcy Court in Manhattan....
To view the full article, register now.

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.