Refco

January 1, 2010

Once-prominent brokerage house Refco, Inc. disclosed that, for years, it had covered up uncollectable receivables by engaging in sham loans between the Company and an entity controlled by the Company’s Chairman and CEO. The pervasive fraud led to one of the largest bankruptcies in U.S. history. On behalf of the Company’s shareholders, BLB&G recovers over $407 million – a material percentage of investor damages – from multiple defendants including Refco’s former officers and directors; its auditor; an Austrian bank involved in the fraud; the banks who underwrote Refco’s IPO; and the private equity firm that owned and controlled the Company.