Friday, 19 December 2014
Last updated 33 min 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.