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• July 3, 2008 - Former Refco CEO Phillip Bennett is Sentenced to Sixteen Years In Prison For His Role In The Refco Fraud.

• May 29, 2008 - Lead Plaintiffs Disclose Extensive Debriefings of Former Refco CEO Phillip Bennett.  In a letter submitted to the federal judge who will sentence former Refco CEO Phillip Bennett, Lead Counsel in the Refco securities class action disclosed that they have held a series of wide-ranging and extensive debriefings with Mr. Bennett, during which the former CEO provided important information concerning the conduct of various defendants in the Refco securities class action. For a copy of Lead Counsel's letter to the Honorable Naomi R. Buchwald, click here . The letter refers to several highly productive meetings between Lead Counsel and Mr. Bennett, and notes that his assistance has substantially enhanced the Class' claims against several of the defendants named in the class action complaint, including the T.H. Lee Defendants, the investment banks that helped Refco sell hundreds of millions of dollars of securities to investors, Refco's former auditor Grant Thornton LLP, and Refco's former corporate law firm, Mayer Brown LLP. Mr. Bennett, who pleaded guilty to a number of felonies in connection with his role in the Refco fraud, is scheduled to be sentenced on June 19, 2008.

• April 17, 2008 - Tone Grant (CEO of Refco prior to Sept. 1998 and 50% owner of Refco until 2004) found guilty of conspiracy, securities fraud, wire fraud, bank fraud and money laundering by a jury in federal court in Manhattan.

• March 26, 2008, Judge Lynch Grants Preliminary Approval to Partial Settlement with Defendant Joseph J. Murphy. Click here to view all Court Orders.

• March 24, 2008 - Following guilty pleas by Bennett and Trosten (see below), the criminal trial against Tone Grant (former CEO of Refco) commenced in federal court in Manhattan before the Honorable Naomi Rice Buchwald and a jury.

• January 31, 2008 - Lead Plaintiffs file Opposition to Joseph P. Collins' and Mayer Brown LLP's Motion to Dismiss the Second Amended Consolidated Class Action Complaint. Click on the following links to view a copy of:
  
  
  • Lead Plaintiffs Memo of Law in Opposition to the Motion to Dismiss of Joseph P. Collins and Mayer Brown LLP
  • Declaration of James J. Sabella in Opposition to the Motion to Dismiss Filed by Mayer Brown LLP and Joseph P. Collins

• January 22, 2008 - Judge Lynch Grants Preliminary Approval to Settlement with Defendant Dennis A. Klejna. Click here to view Judge Lynch's Opinion. Click here to view all Court Orders.

• December 18, 2007 - Lawyer Joseph P. Collins, a partner at Mayer Brown LLP and Refco's primary outside counsel, was indicted for his role in the Refco fraud and charged criminally with eleven counts of securities fraud and related charges. Click here to view the Indictment.

• December 7, 2007 - Lead Plaintiffs Present Settlement with Defendant Dennis A. Klejna to Court for Preliminary Approval. Click on the following links to view:
  
  
  • The Stipulation and Agreement of Settlement Between Lead Plaintiffs and Defendant Dennis A. Klejna
  • The Lead Plaintiffs' Notice of Motion for (I) Preliminary Approval of Partial Settlement with Defendant Dennis A. Klejna, (II) Preliminary Certification of Class for Purposes of Settlement, (III) Preliminary Approval of Form and Manner of Notice, and (IV) Scheduling A Final Approval Hearing
  • The Lead Plaintiffs' Memorandum of Law in Support of Motion for (I) Preliminary Approval of Partial Settlement with Defendant Dennis A. Klejna, (II) Preliminary Certification of Class for Purposes of Settlement, (III) Preliminary Approval of Form and Manner of Notice, and (IV) Scheduling A Final Approval Hearing

• December 6, 2007 - Lead Plaintiffs Announce Settlement With Defendant Dennis A. Klejna for Payment of $7,600,000 and Cooperation Against Others Who Played Role in Refco Affair. Click here to view the associated filings on our Lead Plaintiff Filings page.

• December 3, 2007 - Lead Plaintiffs RH Capital Associates LLC and Pacific Investment Management Company LLC and Plaintiff PIMCO Funds: Pacific Investment Management Series – PIMCO High Yield Fund filed a Second Amended Consolidated Class Action Complaint complaint which, among other things, collects and consolidates all complaints filed and defendants named to date (including Mayer Brown LLP and Mayer Brown partner Joseph P. Collins), updates Lead Plaintiffs' existing allegations and claims based on recently obtained information and adds new allegations against former Refco Group CFO Robert Trosten. Click here to view the Second Amended Complaint.

• October 1, 2007 - Lead Plaintiffs RH Capital Associates LLC and Pacific Investment Management Company LLC and Plaintiff PIMCO Funds: Pacific Investment Management Series – PIMCO High Yield Fund filed a complaint adding Mayer Brown LLP (“Mayer Brown”) and Mayer Brown partner Joseph P. Collins (“Collins”) as named Defendants in the Refco, Inc. (“Refco”) securities class action pending before Judge Gerald E. Lynch in the Southern District of New York. Click here to view the Complaint.

• June 29, 2007 - The Honorable Gerard E. Lynch granted final approval to the partial settlement reached between Lead Plaintiffs and defendant BAWAG for a total of $140 million (the “BAWAG Settlement”). In doing so, Judge Lynch found the settlement to be fair, reasonable and adequate to the Class. As part of the final approval opinion, Judge Lynch also certified as a Class for settlement purposes “…all persons and entities that purchased or otherwise acquired Refco Group Ltd., LLC/Refco Finance Inc. 9% Senior Subordinated Notes due 2012 and/or common stock of Refco, Inc. during the period August 5, 2004 through and including October 17, 2005 and who were damaged thereby (subject to certain exceptions).” Click here to view Judge Lynch's Opinion.

• May 31, 2007 - Judge Lynch rejects request by Audit Committee Defendants and Defendant Silverman to reconsider his April 30, 2007 opinion sustaining Lead Plaintiffs' fraud claims against them. Click here to view Judge Lynch's Opinion.

• April 30, 2007 - The Honorable Gerard E. Lynch issued an 87-page opinion in which the Court denied the vast majority of the ten motions to dismiss filed by a total of twenty-eight defendants. Click here to view Judge Lynch’s Opinion. Click here to see the identities of the defendants.

• March 5, 2007 - The Honorable Gerard E. Lynch preliminarily approved the partial settlement between Lead Plaintiffs and defendant BAWAG. The Settlement Hearing will be held on June 29, 2007 at 10:00 am before Judge Lynch in the United States District Court for the Southern District of New York. Click here to view Judge Lynch’s Opinion.
  

• February 22, 2007 - Lead Plaintiffs Submit Revised BAWAG Settlement to Court for Preliminary Approval Click on the following links to view a copy of:
  • Lead Plaintiffs' Notice of Motion for (I) Preliminary Approval of Partial Settlement with Defendant BAWAG, (II) Preliminary Certification of Class for Purposes of Settlement, (III) Preliminary Approval of Form and Manner of Notice, and (IV) Scheduling of Final Approval Hearing
  • Stipulation and Agreement of Settlement and Supporting Exhibits A-B

• December 22, 2006 - Recent Developments Pertaining to Bankruptcy Proceedings. Click here to view.
  

• September 15, 2006 - Lead Plaintiffs file Opposition to Defendants' Motions to Dismiss the First Amended Consolidated Class Action Complaint. Click on the following links to view a copy of:
  • Lead Plaintiffs' Memorandum of Law in Opposition to Defendants' Motions to Dismiss the First Amended Consolidated Class Action Complaint
  • Declaration John P. Coffey in Support of Lead Plaintiffs' Opposition to Defendants' Motions to Dismiss the First Amended Consolidated Class Action Complaint
  • Exhibits A-D to Declaration of John P. Coffey in Support of Lead Plaintiffs' Opposition to Defendants' Motions to Dismiss the First Amended Consolidated Class Action Complaint

• September 8, 2006 - Lead Plaintiffs Present the BAWAG Settlement to Court for Preliminary Approval. Click on the following links to view a copy of:
  • Stipulation and Agreement of Partial Settlement with BAWAG
  • Notice of Motion for Preliminary Approval of Partial Settlement with BAWAG
  • Memorandum of Law in Support of Notice of Motion
  • Declaration in Support of Notice of Motion

• May 17, 2006 - Lead Plaintiffs file Memorandum of Law in Support of Motion to Modify the PSLRA Stay to Permit Limited Document Discovery in In re Refco, Inc. Securities Litigation. Click here to view the Memorandum.

• May 5, 2006 - Lead Plaintiffs file First Amended Consolidated Class Action Complaint in In re Refco, Inc. Securities Litigation. Click here to view the Complaint.

• April 3, 2006 - Lead Plaintiffs file Consolidated Class Action Complaint in In re Refco, Inc. Securities Litigation. Click here to view the Complaint.

• March 14, 2006 - Court Court Issues Injunction and Restraining Order Enjoining Bennett From Dissipating Any and All Proceeds Obtained From His Sale of Shares in the Refco IPO.  Click here to view the Court's Order.

• February 3, 2006 - The Honorable Gerard Lynch appoints RH Capital Associates LLC and Pacific Investment Management Company LLC as Co-Lead Plaintiffs and Bernstein Litowitz Berger & Grossmann LLP and Grant & Eisenhofer, P.A. as Co-Lead Counsel for the Class in In re Refco, Inc. Securities Litigation. Click here to view a copy of the Court's Order.