A US District Judge in Manhattan has cleared the way to hold MF Global Holdings Ltd(OTCMKTS:MFGLQ) senior executives responsible for the collapse of the failed derivatives brokerage firm. MF Global senior executives target of lawsuit Three MF Global executives named in the suit – former CEO Jon Corzine, COO Bradley Abelow and CFO Henri Steenkamp – had sought to dismiss the case brought by US bankruptcy trustees. The suit charges the leadership team was responsible for the liquidity crisis that brought about the firm’s demise the final week of October, 2011, noted a Reuters report. At the end of that…
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- MF Global senior executives target of lawsuit
- Judge says "MF Global officers repeatedly increased the company's exposure to risky bets on sovereign debt and shuffled funds among MF Global's subsidiaries to cover a growing liquidity crisis"
- Corzine, MF Global should have been aware of mathematical inevitability, say critics
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