MF Global officials settle litigation suit

Jon Corzine

Jon Corzine and other former MF Global Holdings officials have reached a $64.5m settlement of litigation brought by investors seeking to hold them liable for the now-defunct futures brokerage's 2011 bankruptcy.

Reuters reports that the all-cash settlement with Corzine, who was MF Global's chief executive and previously New Jersey's governor, and nine other defendants resolves the last major piece of litigation by MF Global stock, bond and convertible bond investors over the company's rapid descent into Chapter 11.

U.S. District Judge Victor Marrero in Manhattan on Tuesday evening granted preliminary approval of the settlement, which was disclosed earlier in the day. He scheduled a November 20 hearing to consider final approval.

To access the complete Reuters article hit the link below:

Corzine, others settle MF Global lawsuit for $64.5 million

China central bank to support stock market stability, curb risks

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts