Consolidated Complaint Filed Against Refco

Law360 (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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.