Sunday, 19 April 2015
Last updated 11 hours ago
Jan 21 2011 | 12:30pm ET
The Man Group and its former futures brokerage have settled a shareholder lawsuit stemming from the latter's spin-off in 2007.
Investors claimed that MF Global made false and misleading statements in its initial public offering registration and prospectus. The firm, now led by former New Jersey Gov. Jon Corzine, went public in November 2007. The lawsuit followed in 2008, after a rogue trader at the firm caused $141 million in losses on unauthorized wheat bets.
MF Global said it would pay only $2.5 million of the $90 million settlement. Man is kicking in $32.5 million, and MF Global said it hoped its insurance would cover the rest.
The futures brokerage did not admit or deny any wrongdoing.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…