MF Global Holdings Ltd.’s independent directors won dismissal of some claims, including fraud and violations of New York business law, in a lawsuit brought by a customer of the defunct brokerage company.
MF Global Inc., the defunct brokerage once led by Jon Corzine, will begin final distributions to fully satisfy $6.7 billion in claims from former customers, starting tomorrow and lasting several weeks, the trustee overseeing the repayments said.
SAC Capital Advisors LP will have to wait to learn if its $602 million insider trading settlement with the Securities and Exchange Commission can go forward, after a Manhattan judge raised questions over a provision that allows the hedge fund to avoid admitting it did anything wrong.
SAC Capital Advisors LP may have an easier time completing a $602 million settlement with the Securities and Exchange Commission than Citigroup Inc. did in 2011, in part because it faces a different judge, according to securities lawyers.
SAC Capital Advisors LP’s record $602 million insider trading settlement with the U.S. Securities and Exchange Commission was approved by a federal judge, who conditioned his ruling on a future appeals court decision in an SEC settlement with Citigroup Inc.
Mark Kurland, a co-founder of New Castle Funds LLC, was ordered to serve 27 months in prison after pleading guilty in the Galleon Group LLC insider-trading case, becoming the first defendant in the scheme to be sentenced.