We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Case Against Refco Brokers Should Proceed: SEC

Law360 (August 9, 2006, 12:00 AM EDT) -- The case against three former Refco Inc. securities dealers accused of fraudulently trading shares of software maker Sedona should move forward, the U.S. Securities and Exchange Commission urged in its latest court filing.

“They followed their customer’s directions to depress the price of Sedona’s stock by ‘selling short’ massive amounts of the stock in a manner designed to conceal the identity of their customer and their own wrongdoing,” SEC attorneys said in the brief. “They succeeded. In one month, by means of almost daily violations of...
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.