Corzine Says Lawsuit Filled With 'Allegations Of Half-Truths'

Nov 8 2013 | 11:01am ET

Former MF Global Holdings CEO Jon Corzine says there is nothing to an amended lawsuit filed against him and other former executives of the collapsed futures brokerage.

The former New Jersey governor last week asked a federal judge to dismiss the lawsuit, filed in September by the MF Global litigation trustee. Corzine said that the suit is noting more than "allegations of half-truths" and a litany of "disparaging characterizations."

The trustee, Nader Takavoli, has accused Corzine, former MF Global chief operating officer Bradley Abelow and former CFO Henri Steenkamp of acting "recklessly" and with "gross negligence" during the firm's final days, when $1.6 billion in customer funds went missing, used to cover investments in foreign debt.

But Corzine said that he and his colleagues never intended for the funds to be misused and that they didn't act in bad faith. His lawyers wrote that the transfers were part of a new business plan.


In Depth

Fund Manager's Disease: Common Symptoms and Proposed Remedies

May 3 2016 | 6:11pm ET

The cadre of 25 research analysts at Murano Systems speaks with more than 150 investors...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...