Consolidated Complaint Filed Against Refco

Law360, New York (April 4, 2006, 12:00 AM EDT) -- Commodities broker Refco and its CEO Philip Bennett hid losses of nearly half a billion dollars from investors and bondholders, aided by the oversight of numerous underwriters, auditors and company officers, according to the consolidated class action complaint filed yesterday in a district court in Manhattan.

“This is a case about a company that suffered one of the most precipitous corporate meltdowns in U.S. history, and the well-compensated professional gatekeepers who utterly failed in their responsibilities to the investing public,” alleges the complaint, filed by lead...
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