Legal News

Federal Judge Makes MF Global Pay Customers $1 Billion
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

MF Global came out losing this week after a New York Federal Judge ordered that they pay back $1 billion to their wronged customers atop the $100 million they will pay in a civil settlement with U.S.  derivatives regularities. The judge who landed the punches was U.S. District Judge Victor Marrero, and it is good to see a heavy hitter in this case, which is the largest economic meltdown after the 2008 collapse of Lehman Bros., which in part triggered these $6 billion bets placed on European government debt.

The case was pursued by the Commodity Futures Trading Commission (CFTC), which vowed that they would continue to do as they have, when they “worked tirelessly to ensure that 100% restitution be awarded to satisfy customer losses.”

  
What
Where


MF Global costumers former CEO Jon Corzine, meanwhile, was eager for Marrero to reject any legal bid by shareholders against the former CEO, as USA Today Reported, to which the judge sarcastically agreed that “ ’stuff happens’ instantaneously, of its own accord, without any knowledge or causal agency whatsoever by anyone of the many sophisticated business executives in charge of the company’s day to day affairs.”

Indeed, he was out to place blame, and would not see the shame ducking and skulking ways of the former CEO succeed.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Associate Attorney

USA-NC-Durham

I am looking for an Associate Attorney to work in my general practice law firm. The practice...

Apply now

Litigation Attorney

USA-FL-Fort Lauderdale

Seeking a qualified Transactional Attorney with experience in litigation, covenant enforcement and c...

Apply now

Consumer Defense Litigation Attorney

USA-PA-Philadelphia

SESSIONS, FISHMAN, NATHAN & ISRAEL seeks an experienced attorney to join its commercial litigation /...

Apply now

Bankruptcy and Restructuring Partner / Associate

USA-OH-Cleveland

Buckley King is seeking both a partner and a mid-level associate to represent both creditors and deb...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Litigation Associate Attorney

USA-PA-Pittsburgh

Pittsburgh office of a BCG Attorney Search Top Ranked Law Firm seeks associate attorney with 3+ year...

Apply Now

Junior Antitrust Associate Attorney

USA-DC-Washington

Washington, D.C. office of a BCG Attorney Search Top Ranked Law Firm seeks junior antitrust associat...

Apply Now

Civil Litigation (Insurance Defense) Associate Attorney

USA-CA-San Diego

San Diego office of our client seeks civil litigation (insurance defense) associate attorney with ex...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top