Refco Trustee Claims V. PwC, Mayer Brown Dismissed

Law360, New York (April 14, 2009, 12:00 AM EDT) -- A district judge has dismissed claims brought by the U.S. trustee overseeing bankruptcy proceedings for Refco Inc. accusing the company's outside auditors, legal counsel and investment banks — including PricewaterhouseCoopers LLP and Mayer Brown LLP — of knowing about the multimillion-dollar fraud that would eventually lead to the investment firm's collapse.

In an opinion Tuesday, Judge Gerard E. Lynch of the U.S. District Court for the Southern District of New York said trustee Marc Kirschner lacked standing to bring the lawsuit against defendants PwC, Mayer Brown,...
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