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ARTICLE · 05 FEBRUARY 2013

White Collar and Investigatory Representation

Milbank
Milbank
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Milbank

Milbank

Milbank has been in London for over 40 years, assisting clients with their most complex,...

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A summary regarding the developments of a financial derivatives and commodities brokerage firm that suffered a major liquidity crisis in October 2011.

United StatesLitigation, Mediation & Arbitration
Alan Stone
Alan Stone
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Milbank represents MF Global's Chief Risk Officer during congressional investigation and convinces plaintiffs to drop him as named defendant in class action litigations

Milbank represents the Chief Risk Officer of MF Global, a financial derivatives and commodities brokerage firm that suffered a major liquidity crisis in October 2011. While attempting to find a buyer for the firm, it was discovered that MF Global was unable to account for several million dollars of customer funds. MF Global was ultimately forced to file for bankruptcy protection. In the wake of MF Global's bankruptcy, multiple plaintiffs filed class action lawsuits, alleging violations of the Securities Act and the Commodities Exchange Act. Congress also commenced its own investigation and convened several hearings into MF Global's collapse.

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