Corzine fails to win dismissal of lawsuit

Jon Corzine

A federal judge on Tuesday allowed a lawsuit to move forward that seeks to hold former MF Global Holdings CEO Jon Corzine and other executives responsible for the brokerage's collapse.

Reuters reports that District Judge Victor Marrero said that it was reasonable to infer someone 'did something wrong to set in motion such an extraordinary chain of events causing such extensive harm to so many people and interests'.

But the judge also called the litigation 'wasteful and rancorous' and chastised the parties for failing to come together to resolve the matter 'in a just and efficient way'.

The judge also chided lawyers for the customers for filing claims that 'fly in the face of clear precedent'. He dismissed parts of the lawsuit, including claims pending against accounting firm PricewaterhouseCoopers.

Hit the link below to access the complete Reuters article:

Corzine fails to win dismissal of MF Global customers' lawsuit

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